AMJ Financial Wealth Management Sells 2,489 Shares of International Business Machines Corporation $IBM

AMJ Financial Wealth Management reduced its stake in International Business Machines Corporation (NYSE:IBM) by 72.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 943 shares of the technology company’s stock after selling 2,489 shares during the quarter. AMJ Financial Wealth Management’s holdings in International Business Machines were worth $266,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. CFS Investment Advisory Services LLC lifted its position in shares of International Business Machines by 0.4% during the third quarter. CFS Investment Advisory Services LLC now owns 9,359 shares of the technology company’s stock valued at $2,878,000 after purchasing an additional 34 shares in the last quarter. KPP Advisory Services LLC increased its stake in International Business Machines by 1.7% in the 3rd quarter. KPP Advisory Services LLC now owns 2,069 shares of the technology company’s stock valued at $584,000 after buying an additional 34 shares during the last quarter. Marco Investment Management LLC lifted its position in shares of International Business Machines by 0.3% during the 3rd quarter. Marco Investment Management LLC now owns 10,774 shares of the technology company’s stock worth $3,040,000 after buying an additional 34 shares in the last quarter. MA Private Wealth boosted its stake in shares of International Business Machines by 1.5% in the 3rd quarter. MA Private Wealth now owns 2,242 shares of the technology company’s stock worth $633,000 after buying an additional 34 shares during the last quarter. Finally, Ignite Planners LLC grew its holdings in shares of International Business Machines by 0.9% in the third quarter. Ignite Planners LLC now owns 4,000 shares of the technology company’s stock valued at $1,129,000 after acquiring an additional 36 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IBM. DZ Bank upgraded International Business Machines to a “hold” rating in a report on Wednesday, February 11th. Bank of America increased their price objective on International Business Machines from $315.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. JPMorgan Chase & Co. lifted their target price on International Business Machines from $312.00 to $317.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. BMO Capital Markets reiterated a “market perform” rating and set a $350.00 price target on shares of International Business Machines in a research report on Thursday, January 29th. Finally, Erste Group Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, International Business Machines presently has an average rating of “Moderate Buy” and an average target price of $330.07.

Insider Buying and Selling

In other news, Director David N. Farr purchased 1,000 shares of the stock in a transaction on Friday, January 30th. The shares were acquired at an average price of $304.00 per share, for a total transaction of $304,000.00. Following the completion of the transaction, the director directly owned 9,258 shares of the company’s stock, valued at approximately $2,814,432. This trade represents a 12.11% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by corporate insiders.

International Business Machines Stock Up 0.4%

Shares of NYSE IBM opened at $257.20 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 1.67. The business has a 50-day moving average of $294.08 and a 200-day moving average of $284.23. The firm has a market capitalization of $240.41 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 2.58 and a beta of 0.69. International Business Machines Corporation has a 12 month low of $214.50 and a 12 month high of $324.90.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 28th. The technology company reported $4.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.33 by $0.19. The business had revenue of $19.69 billion during the quarter, compared to analyst estimates of $19.23 billion. International Business Machines had a net margin of 15.69% and a return on equity of 38.15%. International Business Machines’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the previous year, the business posted $3.92 earnings per share. Sell-side analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be given a $1.68 dividend. The ex-dividend date is Tuesday, February 10th. This represents a $6.72 annualized dividend and a yield of 2.6%. International Business Machines’s payout ratio is 60.27%.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.