Choreo LLC Decreases Stock Position in International Business Machines Co. (NYSE:IBM)

Choreo LLC cut its holdings in International Business Machines Co. (NYSE:IBM) by 3.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,958 shares of the technology company’s stock after selling 1,703 shares during the period. Choreo LLC’s holdings in International Business Machines were worth $10,769,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in IBM. Czech National Bank boosted its position in shares of International Business Machines by 7.2% in the 3rd quarter. Czech National Bank now owns 187,647 shares of the technology company’s stock worth $41,485,000 after buying an additional 12,599 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its holdings in International Business Machines by 3.4% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 11,827 shares of the technology company’s stock valued at $2,615,000 after purchasing an additional 384 shares in the last quarter. Everpar Advisors LLC lifted its holdings in International Business Machines by 19.6% in the 3rd quarter. Everpar Advisors LLC now owns 1,452 shares of the technology company’s stock valued at $321,000 after purchasing an additional 238 shares in the last quarter. Heartwood Wealth Advisors LLC lifted its holdings in International Business Machines by 2.0% in the 3rd quarter. Heartwood Wealth Advisors LLC now owns 5,908 shares of the technology company’s stock valued at $1,306,000 after purchasing an additional 117 shares in the last quarter. Finally, Ignite Planners LLC lifted its holdings in International Business Machines by 16.1% in the 3rd quarter. Ignite Planners LLC now owns 3,314 shares of the technology company’s stock valued at $733,000 after purchasing an additional 460 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on IBM shares. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Jefferies Financial Group upped their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Wedbush initiated coverage on shares of International Business Machines in a research note on Monday. They set an “outperform” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. Finally, UBS Group upped their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average target price of $225.53.

International Business Machines Trading Up 1.4 %

IBM opened at $264.30 on Wednesday. The firm has a market capitalization of $244.38 billion, a P/E ratio of 41.23, a P/E/G ratio of 5.63 and a beta of 0.76. The firm’s 50 day moving average is $228.01 and its 200-day moving average is $215.86. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $265.25. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) 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 38.99%. Analysts expect that International Business Machines Co. will post 10.73 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.53%. International Business Machines’s dividend payout ratio is currently 104.21%.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.07% of the company’s stock.

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.