International Business Machines Co. (NYSE:IBM) Shares Sold by Korea Investment CORP

Korea Investment CORP lowered its holdings in shares of International Business Machines Co. (NYSE:IBM) by 13.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 587,299 shares of the technology company’s stock after selling 92,339 shares during the period. Korea Investment CORP owned 0.06% of International Business Machines worth $129,106,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Compass Financial Services Inc purchased a new position in shares of International Business Machines during the fourth quarter worth about $26,000. Vision Financial Markets LLC acquired a new stake in International Business Machines during the 4th quarter worth approximately $31,000. Avondale Wealth Management grew its stake in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares during the last quarter. Valued Wealth Advisors LLC increased its holdings in shares of International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after purchasing an additional 90 shares during the period. Finally, Rialto Wealth Management LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth approximately $35,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IBM. The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Sanford C. Bernstein boosted their price target on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. raised their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Morgan Stanley boosted their target price on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Finally, StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Performance

Shares of IBM opened at $250.26 on Thursday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45. The stock has a market cap of $232.06 billion, a P/E ratio of 39.04, a PEG ratio of 5.81 and a beta of 0.74. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company has a 50-day moving average of $248.65 and a two-hundred day moving average of $230.90.

International Business Machines (NYSE:IBM) last posted its earnings results 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 return on equity of 38.99% and a net margin of 9.60%. As a group, research analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.67%. International Business Machines’s dividend payout ratio (DPR) is 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.