Essex LLC Decreases Stake in International Business Machines Co. (NYSE:IBM)

Essex LLC lessened its position in shares of International Business Machines Co. (NYSE:IBM) by 5.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,723 shares of the technology company’s stock after selling 617 shares during the quarter. Essex LLC’s holdings in International Business Machines were worth $2,577,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC increased its position in shares of International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after purchasing an additional 2,702,340 shares during the last quarter. Holocene Advisors LP bought a new position in International Business Machines during the third quarter valued at $573,306,000. State Street Corp raised its stake in shares of International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after acquiring an additional 1,200,803 shares during the period. KBC Group NV boosted its stake in shares of International Business Machines by 90.4% during the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after purchasing an additional 800,930 shares during the period. Finally, Strategic Financial Concepts LLC grew its holdings in International Business Machines by 23,311.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock valued at $153,262,000 after purchasing an additional 694,204 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of IBM stock opened at $252.31 on Friday. The stock’s 50-day moving average is $229.76 and its 200 day moving average is $216.92. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $265.72. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company has a market cap of $233.30 billion, a P/E ratio of 39.36, a PEG ratio of 5.57 and a beta of 0.76.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Research analysts predict that International Business Machines Co. will post 10.75 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a $1.67 dividend. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.65%. International Business Machines’s payout ratio is 104.21%.

Analyst Ratings Changes

Several research analysts have issued reports on IBM shares. JPMorgan Chase & Co. boosted their target price on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday. Wedbush began coverage on shares of International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. BMO Capital Markets lifted their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Finally, Sanford C. Bernstein raised their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $225.53.

International Business Machines 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.