Cibc World Market Inc. decreased its position in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 420,525 shares of the technology company’s stock after selling 11,157 shares during the quarter. Cibc World Market Inc.’s holdings in International Business Machines were worth $92,444,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of IBM. Hazlett Burt & Watson Inc. lifted its stake in shares of International Business Machines by 1,054.5% in the 3rd 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 period. Hara Capital LLC acquired a new stake in International Business Machines during the 3rd quarter worth $29,000. Avondale Wealth Management raised its stake in International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares during the period. Valued Wealth Advisors LLC raised its stake in International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after buying an additional 90 shares during the period. Finally, Modus Advisors LLC acquired a new stake in International Business Machines during the 4th quarter worth $40,000. Institutional investors and hedge funds own 58.96% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the company. Morgan Stanley increased their target price on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday. Sanford C. Bernstein increased their target price on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Monday. Stifel Nicolaus increased their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Jefferies Financial Group raised their price objective on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $225.53.
International Business Machines Stock Up 12.9 %
NYSE IBM opened at $258.22 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $261.80. The company has a 50 day moving average of $225.24 and a 200-day moving average of $213.55. The company has a market cap of $238.76 billion, a price-to-earnings ratio of 40.28, a PEG ratio of 4.25 and a beta of 0.74.
International Business Machines (NYSE:IBM – Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 40.37%. On average, equities research analysts expect that International Business Machines Co. will post 10.54 earnings per share for the current fiscal year.
International Business Machines Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.59%. International Business Machines’s dividend payout ratio (DPR) is 104.21%.
Insider Activity at International Business Machines
In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.07% of the stock is currently owned by insiders.
About International Business Machines
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.
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