Gen Wealth Partners Inc Sells 215 Shares of International Business Machines Co. (NYSE:IBM)

Gen Wealth Partners Inc cut its position in shares of International Business Machines Co. (NYSE:IBM) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 10,326 shares of the technology company’s stock after selling 215 shares during the period. International Business Machines accounts for about 1.0% of Gen Wealth Partners Inc’s investment portfolio, making the stock its 14th largest holding. Gen Wealth Partners Inc’s holdings in International Business Machines were worth $2,270,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of IBM. Principal Financial Group Inc. boosted its stake in International Business Machines by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,094,106 shares of the technology company’s stock valued at $241,885,000 after buying an additional 46,951 shares in the last quarter. Avondale Wealth Management boosted its stake in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of International Business Machines by 0.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 783,798 shares of the technology company’s stock worth $173,282,000 after purchasing an additional 4,330 shares during the last quarter. ST Germain D J Co. Inc. increased its position in shares of International Business Machines by 6.1% during the 4th quarter. ST Germain D J Co. Inc. now owns 11,304 shares of the technology company’s stock worth $2,485,000 after purchasing an additional 650 shares in the last quarter. Finally, Hilltop National Bank lifted its holdings in International Business Machines by 34.8% during the 4th quarter. Hilltop National Bank now owns 7,827 shares of the technology company’s stock valued at $1,721,000 after purchasing an additional 2,022 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Bank of America lifted their price objective on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Oppenheimer assumed coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price for the company. JPMorgan Chase & Co. upped their price target on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Finally, Morgan Stanley lowered their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average price target of $248.50.

International Business Machines Price Performance

International Business Machines stock opened at $249.32 on Friday. The firm has a market capitalization of $231.72 billion, a P/E ratio of 38.90, a PEG ratio of 5.81 and a beta of 0.64. The business has a 50-day moving average of $243.01 and a 200-day moving average of $234.78. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 1 year low of $163.53 and a 1 year high of $266.45.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.68 earnings per share. On average, equities analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.70%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is presently 115.66%.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.