Royal Harbor Partners LLC sells 1,271 shares of International Business Machines Co. (NYSE: IBM)

Avril BernardinApril 1, 2023

0 0 4 minutes read

Royal Harbor Partners LLC reduced its position in International Business Machines Co. (NYSE: IBM – Get Rating) by 6.9% in the fourth quarter, according to the company in its latest filing with the Securities & Exchange Commission. The fund held 17,207 shares of the technology company after selling 1,271 shares during the period. International Business Machines accounts for approximately 1.5% of Royal Harbor Partners LLC’s holdings, making it its 21st largest position. Royal Harbor Partners LLC’s holdings in International Business Machines were worth $2,424,000 at the end of the last quarter.

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A number of other large investors have also increased or reduced their stakes in IBM. Nations Financial Group Inc. IA ADV increased its position in International Business Machines by 1.0% during the third quarter. Nations Financial Group Inc. IA ADV now owns 6,800 shares of the technology company valued at $808,000 after acquiring 70 additional shares in the last quarter. Doyle Wealth Management increased its position in International Business Machines shares by 0.7% in the third quarter. Doyle Wealth Management now owns 9,762 shares of the technology company valued at $1,160,000 after buying 70 more shares in the last quarter. Gilbert & Cook Inc. increased its stake in shares of International Business Machines by 2.4% in the third quarter. Gilbert & Cook Inc. now owns 3,245 shares of the technology company worth $444,000 after acquiring 76 additional shares during the period. Janiczek Wealth Management LLC increased its stake in shares of International Business Machines by 28.8% in the fourth quarter. Janiczek Wealth Management LLC now owns 344 shares of the technology company valued at $50,000 after buying 77 additional shares during the period. Finally, First PREMIER Bank increased its holdings of International Business Machines shares by 5.6% during the third quarter. First PREMIER Bank now owns 1,510 shares of the technology company worth $179,000 after buying 80 more shares in the last quarter. Institutional investors hold 55.90% of the company’s shares.

International Trade Machinery Price Performance

IBM shares rose $1.27 during Friday trading hours, hitting $130.49. 1,517,413 shares of the company were traded, against an average volume of 5,107,794. The company’s fifty-day moving average is $131.56 and its 200-day moving average is $134.99. The company has a market capitalization of $118.37 billion, a price/earnings ratio of 73.42, a P/E/G ratio of 3.34 and a beta of 0.85. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt ratio of 2.10. International Business Machines Co. has a fifty-two week minimum of $115.54 and a fifty-two week maximum of $153.21.

International Business Machines (NYSE:IBM – Get Rating) last released quarterly earnings data on Wednesday, January 25. The technology company reported earnings per share of $3.60 for the quarter, missing the consensus estimate of $3.61 per ($0.01). The company posted revenue of $16.69 billion in the quarter, versus analyst estimates of $16.38 billion. International Business Machines posted a net margin of 2.71% and a return on equity of 41.24%. The company’s quarterly revenue rose 0.0% from the same quarter last year. During the same period last year, the company made earnings per share of $3.35. On average, stock analysts expect International Business Machines Co. to post earnings per share of 9.46 for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 10. Shareholders of record on Friday, February 10 received a dividend of $1.65. The ex-dividend date was Thursday, February 9. This represents a dividend of $6.60 on an annualized basis and a yield of 5.06%. International Business Machines’ dividend payout ratio (DPR) is currently 375.00%.

Wall Street analysts predict growth

Several research companies recently commented on IBM. Edward Jones downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a Monday, Feb. 6 research report. Citigroup raised its target price on International Business Machines from $140.00 to $145.00 and gave the company a “neutral” rating in a Thursday, January 26 research note. BMO Capital Markets raised its price target on International Business Machines from $148.00 to $155.00 and gave the stock a “market performance” rating in a Thursday, Jan. 26, report. Stifel Nicolaus raised his price target on International Business Machines from $140.00 to $158.00 and gave the stock a “buy” rating in a Monday, January 23 research report. Finally, Evercore ISI raised its price target on International Business Machines from $135.00 to $150.00 in a Tuesday, January 17 research note. One research analyst rated the stock with a sell rating, six assigned a hold rating and four issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $142.73.

International Business Machines Company Profile (Get Rating)

International Business Machines Corp. is an information technology company, engaged in providing integrated solutions that leverage information technology and business process insight. It operates through the following segments: Software, Consulting, Infrastructure, Financing and Others.