International Business Machines Co. (NYSE:IBM) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 263,917 shares of the technology company’s stock after selling 974 shares during the period. International Business Machines accounts for approximately 1.1% of Kornitzer Capital Management Inc. KS’s portfolio, making the stock its 15th biggest holding. Kornitzer Capital Management Inc. KS’s holdings in International Business Machines were worth $58,017,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. International Assets Investment Management LLC grew its holdings in shares of International Business Machines by 20,324.5% during the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after buying an additional 2,702,340 shares during the last quarter. Holocene Advisors LP purchased a new position in shares of International Business Machines in the 3rd quarter valued at approximately $573,306,000. State Street Corp increased its holdings 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 purchasing an additional 1,200,803 shares during the period. KBC Group NV raised its stake in shares of International Business Machines by 90.4% during the fourth 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 last quarter. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of International Business Machines by 23,311.1% during the fourth quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock worth $153,262,000 after purchasing an additional 694,204 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the subject of a number of analyst reports. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Oppenheimer initiated coverage on shares of International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. UBS Group increased their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Finally, Sanford C. Bernstein lifted their price target on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $231.44.

International Business Machines Trading Up 0.6 %

Shares of IBM opened at $260.65 on Tuesday. 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 firm has a 50 day simple moving average of $232.08 and a 200-day simple moving average of $219.64. The stock has a market cap of $241.01 billion, a price-to-earnings ratio of 40.66, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Equities analysts forecast that International Business Machines Co. will post 10.75 EPS 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. Stockholders of record on Monday, February 10th will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

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.