Prentice Wealth Management LLC Has $659,000 Stock Holdings in International Business Machines Co. (NYSE:IBM)

Prentice Wealth Management LLC cut its position in International Business Machines Co. (NYSE:IBM) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,927 shares of the technology company’s stock after selling 239 shares during the period. Prentice Wealth Management LLC’s holdings in International Business Machines were worth $659,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Live Oak Investment Partners acquired a new stake in shares of International Business Machines in the 4th quarter valued at about $30,000. GW&K Investment Management LLC acquired a new stake in shares of International Business Machines in the 1st quarter valued at about $33,000. First Command Advisory Services Inc. acquired a new stake in shares of International Business Machines in the 1st quarter valued at about $37,000. Kepos Capital LP acquired a new position in International Business Machines during the 4th quarter valued at about $42,000. Finally, Pacific Center for Financial Services acquired a new position in International Business Machines during the 1st quarter valued at about $41,000. 56.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IBM. JPMorgan Chase & Co. began coverage on International Business Machines in a research note on Friday, July 7th. They set a “neutral” rating and a $145.00 price target for the company. BMO Capital Markets lifted their price target on International Business Machines from $145.00 to $150.00 and gave the company a “market perform” rating in a research note on Monday, July 17th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Morgan Stanley restated an “equal weight” rating and issued a $135.00 target price on shares of International Business Machines in a research note on Thursday, July 20th. Finally, Bank of America boosted their target price on International Business Machines from $152.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average price target of $142.91.

International Business Machines Trading Up 0.6 %

Shares of IBM stock opened at $147.38 on Friday. The company’s fifty day simple moving average is $142.01 and its two-hundred day simple moving average is $133.43. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines Co. has a 1 year low of $115.54 and a 1 year high of $153.21. The stock has a market capitalization of $134.26 billion, a price-to-earnings ratio of 68.23, a PEG ratio of 3.72 and a beta of 0.85.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 19th. The technology company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.18. International Business Machines had a net margin of 3.35% and a return on equity of 38.10%. The business had revenue of $15.48 billion for the quarter, compared to analysts’ expectations of $15.58 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, analysts anticipate that International Business Machines Co. will post 9.43 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, September 9th. Stockholders of record on Thursday, August 10th were issued a $1.66 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $6.64 annualized dividend and a dividend yield of 4.51%. International Business Machines’s payout ratio is currently 307.41%.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.