SeaCrest Wealth Management LLC Has $2.65 Million Stock Position in International Business Machines Co. (NYSE:IBM)

SeaCrest Wealth Management LLC cut its stake in International Business Machines Co. (NYSE:IBM) by 24.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,037 shares of the technology company’s stock after selling 3,888 shares during the period. SeaCrest Wealth Management LLC’s holdings in International Business Machines were worth $2,646,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IBM. Hazlett Burt & Watson Inc. boosted its stake in shares of International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares during the last quarter. Hara Capital LLC acquired a new position in International Business Machines in the third quarter valued at $29,000. Avondale Wealth Management boosted its position in International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares during the last quarter. Modus Advisors LLC acquired a new stake in International Business Machines during the 4th quarter worth about $40,000. Finally, Capital Performance Advisors LLP bought a new position in shares of International Business Machines in the 3rd quarter worth about $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IBM shares. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Sanford C. Bernstein raised their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. BMO Capital Markets lifted their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Stifel Nicolaus increased their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $215.81.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value 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. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is owned by corporate insiders.

International Business Machines Stock Performance

Shares of IBM opened at $217.54 on Wednesday. The firm has a market capitalization of $201.15 billion, a P/E ratio of 31.67, a P/E/G ratio of 5.18 and a beta of 0.74. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $239.35. The stock has a 50 day moving average price of $222.34 and a two-hundred day moving average price of $210.16. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

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

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s payout ratio is currently 97.23%.

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.