Tritonpoint Wealth LLC Sells 47 Shares of International Business Machines Co. (NYSE:IBM)

Tritonpoint Wealth LLC lowered its position in International Business Machines Co. (NYSE:IBM) by 2.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,096 shares of the technology company’s stock after selling 47 shares during the period. Tritonpoint Wealth LLC’s holdings in International Business Machines were worth $461,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in IBM. Hazlett Burt & Watson Inc. lifted its holdings in shares of 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 valued at $29,000 after purchasing an additional 116 shares during the last quarter. Hara Capital LLC bought a new position in International Business Machines during the 3rd quarter valued at approximately $29,000. Avondale Wealth Management raised its stake 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 buying an additional 56 shares during the last quarter. Valued Wealth Advisors LLC boosted its holdings in International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after acquiring an additional 90 shares in the last quarter. Finally, Modus Advisors LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Bank of America raised their price target on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley upped their price objective on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, BMO Capital Markets lifted their target price on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $225.53.

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’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 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 approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $255.48 on Monday. The firm’s 50 day moving average price is $226.61 and its 200-day moving average price is $214.56. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The stock has a market capitalization of $236.23 billion, a PE ratio of 39.86, a price-to-earnings-growth ratio of 4.25 and a beta of 0.74. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $261.80.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 40.37%. Equities research analysts expect that International Business Machines Co. will post 10.54 EPS for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.61%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

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.