Shulman DeMeo Asset Management LLC Has $1.82 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Shulman DeMeo Asset Management LLC trimmed its stake in International Business Machines Co. (NYSE:IBM) by 3.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 8,297 shares of the technology company’s stock after selling 314 shares during the quarter. International Business Machines accounts for about 0.5% of Shulman DeMeo Asset Management LLC’s holdings, making the stock its 17th largest position. Shulman DeMeo Asset Management LLC’s holdings in International Business Machines were worth $1,824,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. grew its stake in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares during the last quarter. Hara Capital LLC bought a new position in International Business Machines in the 3rd quarter valued at $29,000. Avondale Wealth Management boosted its stake in International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares in the last quarter. Modus Advisors LLC bought a new stake in shares of International Business Machines during the fourth quarter worth $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of International Business Machines in the third quarter valued at $43,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

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 capitalization of $205.77 billion, a PE ratio of 32.39, a P/E/G ratio of 4.71 and a beta of 0.74. The stock has a 50 day simple moving average of $222.47 and a 200 day simple moving average of $210.23. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $239.35.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data 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. The company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 earnings per share. Sell-side analysts predict that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.00%. International Business Machines’s payout ratio is presently 97.23%.

Analysts Set New Price Targets

IBM has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Stifel Nicolaus upped their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Bernstein Bank upped their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. UBS Group lifted their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday. Finally, Bank of America upped their target price on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Two research 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $215.81.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is owned by insiders.

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.