Marks Group Wealth Management Inc Sells 960 Shares of International Business Machines Co. (NYSE:IBM)

Marks Group Wealth Management Inc cut its holdings in International Business Machines Co. (NYSE:IBM) by 9.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,857 shares of the technology company’s stock after selling 960 shares during the quarter. Marks Group Wealth Management Inc’s holdings in International Business Machines were worth $1,449,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBM. International Assets Investment Management LLC grew its position in shares of International Business Machines by 15,439.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock worth $433,974,000 after buying an additional 2,636,386 shares during the period. Morgan Stanley grew its position in International Business Machines by 13.4% during the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after purchasing an additional 1,919,490 shares during the last quarter. California Public Employees Retirement System grew its position in International Business Machines by 15.9% during the 3rd quarter. California Public Employees Retirement System now owns 6,345,842 shares of the technology company’s stock valued at $890,322,000 after purchasing an additional 871,247 shares during the last quarter. Bank of New York Mellon Corp grew its position in International Business Machines by 10.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,691,369 shares of the technology company’s stock valued at $1,219,399,000 after purchasing an additional 807,357 shares during the last quarter. Finally, Northern Trust Corp grew its position in International Business Machines by 4.2% during the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock valued at $1,398,886,000 after purchasing an additional 404,948 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IBM has been the topic of several recent research reports. BMO Capital Markets increased their price objective on shares of International Business Machines from $155.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Bank of America raised their target price on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Tuesday. Evercore ISI raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $165.00 to $200.00 in a report on Friday, January 19th. Finally, Royal Bank of Canada increased their price objective on shares of International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $177.23.

International Business Machines Trading Down 1.1 %

Shares of NYSE:IBM traded down $2.04 on Tuesday, hitting $179.86. 2,775,421 shares of the company’s stock were exchanged, compared to its average volume of 4,717,872. International Business Machines Co. has a 12 month low of $120.55 and a 12 month high of $199.18. The stock has a market capitalization of $164.88 billion, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 3.57 and a beta of 0.70. The business’s 50 day simple moving average is $188.38 and its two-hundred day simple moving average is $169.59. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 24th. The technology company reported $3.87 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.09. The business had revenue of $17.38 billion during the quarter, compared to the consensus estimate of $17.29 billion. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $3.60 earnings per share. Analysts anticipate that International Business Machines Co. will post 10.04 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were paid a $1.66 dividend. The ex-dividend date was Thursday, February 8th. This represents a $6.64 annualized dividend and a yield of 3.69%. International Business Machines’s dividend payout ratio (DPR) is presently 81.67%.

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.