International Business Machines Co. (NYSE:IBM) Shares Sold by Shulman DeMeo Asset Management LLC

Shulman DeMeo Asset Management LLC cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,297 shares of the technology company’s stock after selling 314 shares during the quarter. International Business Machines comprises approximately 0.5% of Shulman DeMeo Asset Management LLC’s portfolio, making the stock its 17th biggest holding. Shulman DeMeo Asset Management LLC’s holdings in International Business Machines were worth $1,824,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in IBM. Ellenbecker Investment Group grew its stake in shares of International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after purchasing an additional 46 shares during the last quarter. Goldstein Advisors LLC lifted its position in shares of International Business Machines by 4.0% during the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after acquiring an additional 47 shares during the last quarter. Vertex Planning Partners LLC boosted its stake in shares of International Business Machines by 3.6% during the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock worth $298,000 after acquiring an additional 47 shares in the last quarter. Forza Wealth Management LLC grew its holdings in shares of International Business Machines by 0.4% in the 4th quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock worth $2,891,000 after acquiring an additional 47 shares during the last quarter. Finally, Sollinda Capital Management LLC raised its position in shares of International Business Machines by 3.7% during the third quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock worth $301,000 after purchasing an additional 49 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of analyst reports. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Sanford C. Bernstein boosted their price target on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Morgan Stanley raised their price objective on shares of 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. 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. Finally, DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $215.81.

International Business Machines Price Performance

Shares of IBM opened at $222.54 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm has a market cap of $205.77 billion, a PE ratio of 32.39, a PEG ratio of 4.71 and a beta of 0.74. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $239.35. The firm’s 50 day moving average price is $222.47 and its 200 day moving average price is $210.23.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share 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 firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period in the previous year, the company earned $2.20 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, research analysts expect that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were paid 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 3.00%. International Business Machines’s payout ratio is presently 97.23%.

Insiders Place Their Bets

In other International Business Machines 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 value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.07% 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.