US Bancorp DE Reduces Position in International Business Machines Co. (NYSE:IBM)

US Bancorp DE decreased its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 557,736 shares of the technology company’s stock after selling 7,621 shares during the period. US Bancorp DE owned 0.06% of International Business Machines worth $122,607,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of IBM. State Street Corp grew its position 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. FMR LLC grew its position in shares of International Business Machines by 6.0% in the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after purchasing an additional 294,276 shares during the period. Swiss National Bank grew its position in shares of International Business Machines by 0.5% in the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after purchasing an additional 12,400 shares during the period. Holocene Advisors LP purchased a new stake in shares of International Business Machines in the third quarter valued at $573,306,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of International Business Machines by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,473,421 shares of the technology company’s stock valued at $546,824,000 after purchasing an additional 32,732 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on IBM shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Monday, January 27th. Wedbush started coverage on International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating for the company. JPMorgan Chase & Co. boosted their price target 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. Finally, Oppenheimer initiated coverage on International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Trading Down 0.2 %

NYSE:IBM opened at $252.63 on Friday. The business’s 50-day simple moving average is $238.37 and its 200 day simple moving average is $224.13. International Business Machines Co. has a one year low of $162.62 and a one year high of $265.72. The stock has a market cap of $234.25 billion, a price-to-earnings ratio of 39.41, a price-to-earnings-growth ratio of 5.81 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last announced 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%. As a group, sell-side analysts predict that International Business Machines Co. will post 10.78 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. Shareholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s payout ratio is currently 104.21%.

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.