Boltwood Capital Management Cuts Holdings in International Business Machines Co. (NYSE:IBM)

Boltwood Capital Management lowered its holdings in International Business Machines Co. (NYSE:IBM) by 42.8% in the 4th quarter, Holdings Channel reports. The firm owned 2,782 shares of the technology company’s stock after selling 2,081 shares during the period. Boltwood Capital Management’s holdings in International Business Machines were worth $612,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Hazlett Burt & Watson Inc. grew its stake in shares of International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC purchased a new stake in International Business Machines in the third quarter worth approximately $29,000. Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines in the 2nd quarter worth approximately $36,000. Modus Advisors LLC bought a new position in shares of International Business Machines during the 4th quarter valued at $40,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of International Business Machines in the 3rd quarter worth $43,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of IBM stock traded up $0.55 on Monday, reaching $223.20. The company’s stock had a trading volume of 819,209 shares, compared to its average volume of 2,391,290. The company has a market capitalization of $206.38 billion, a price-to-earnings ratio of 32.49, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74. The stock’s fifty day simple moving average is $220.54 and its 200-day simple moving average is $207.78. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 1 year low of $157.88 and a 1 year high of $239.35.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter last year, the firm earned $2.20 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. Analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were given a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.99%. International Business Machines’s dividend payout ratio is presently 97.23%.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Bank of America increased their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Morgan Stanley upped their price objective on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. Stifel Nicolaus boosted their price target on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Bernstein Bank raised their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $214.88.

International Business Machines Profile

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.