Penbrook Management LLC Has $555,000 Stock Position in International Business Machines Co. (NYSE:IBM)

Penbrook Management LLC lessened its stake in International Business Machines Co. (NYSE:IBM) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,525 shares of the technology company’s stock after selling 100 shares during the quarter. Penbrook Management LLC’s holdings in International Business Machines were worth $555,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in IBM. Meeder Asset Management Inc. raised its position in shares of International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after purchasing an additional 166 shares during the period. Brady Martz Wealth Solutions LLC acquired a new stake in International Business Machines during the 4th quarter worth approximately $1,940,000. Philip James Wealth Mangement LLC bought a new position in International Business Machines in the third quarter valued at approximately $5,117,000. Nordea Investment Management AB lifted its stake in International Business Machines by 6.5% in the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock valued at $16,615,000 after buying an additional 4,625 shares in the last quarter. Finally, M.E. Allison & CO. Inc. acquired a new position in shares of International Business Machines in the fourth quarter valued at approximately $1,034,000. 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 the stock. Morgan Stanley boosted their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on International Business Machines from $227.00 to $233.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Bank of America increased their price objective on International Business Machines from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Monday. Finally, UBS Group raised their price target on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $221.13.

Insider Buying and Selling at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.07% of the company’s stock.

International Business Machines Stock Up 1.5 %

NYSE IBM opened at $229.13 on Thursday. The company has a market cap of $211.87 billion, a price-to-earnings ratio of 33.35, a PEG ratio of 4.78 and a beta of 0.74. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $239.35. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The company has a 50 day moving average of $224.95 and a 200-day moving average of $213.44.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. On average, equities research analysts expect that International Business Machines Co. will post 10.16 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.92%. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

International Business Machines Company 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.