Cetera Investment Advisers Cuts Stock Position in International Business Machines Co. (NYSE:IBM)

Cetera Investment Advisers lessened its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 284,956 shares of the technology company's stock after selling 1,308 shares during the period. Cetera Investment Advisers' holdings in International Business Machines were worth $62,642,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of IBM. Treasurer of the State of North Carolina lifted its holdings in shares of International Business Machines by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after buying an additional 4,131 shares during the period. Blue Zone Wealth Advisors LLC bought a new position in International Business Machines during the 4th quarter worth about $242,000. Brady Martz Wealth Solutions LLC purchased a new position in International Business Machines during the 4th quarter valued at about $1,940,000. Tranquilli Financial Advisor LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at about $373,000. Finally, Truist Financial Corp lifted its position in shares of International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock worth $178,296,000 after purchasing an additional 49,591 shares during the period. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

Shares of International Business Machines stock traded down $4.82 on Friday, reaching $249.32. 2,900,243 shares of the stock were exchanged, compared to its average volume of 4,200,606. The business has a 50 day moving average price of $243.01 and a two-hundred day moving average price of $234.78. The firm has a market capitalization of $231.72 billion, a price-to-earnings ratio of 38.90, a PEG ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a twelve month low of $163.53 and a twelve month high of $266.45. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

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

International Business Machines Increases Dividend

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

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

IBM has been the subject of a number of analyst reports. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Wedbush restated an "outperform" rating and set a $300.00 price objective on shares of International Business Machines in a research note on Wednesday. Royal Bank of Canada reiterated an "outperform" rating and issued a $276.00 target price on shares of International Business Machines in a research note on Monday, April 14th. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $248.50.

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.