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

Pitcairn Co. lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,947 shares of the technology company’s stock after selling 73 shares during the period. Pitcairn Co.’s holdings in International Business Machines were worth $1,087,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Grant Private Wealth Management Inc purchased a new stake in shares of International Business Machines in the 4th quarter valued at approximately $479,000. Selway Asset Management acquired a new position in International Business Machines in the fourth quarter valued at approximately $780,000. Arete Wealth Advisors LLC grew its position in International Business Machines by 9.5% in the fourth quarter. Arete Wealth Advisors LLC now owns 14,373 shares of the technology company’s stock worth $3,159,000 after acquiring an additional 1,243 shares during the period. World Investment Advisors increased its stake in International Business Machines by 37.6% during the fourth quarter. World Investment Advisors now owns 17,333 shares of the technology company’s stock worth $3,810,000 after acquiring an additional 4,740 shares during the last quarter. Finally, Westpac Banking Corp raised its position in International Business Machines by 588.2% in the fourth quarter. Westpac Banking Corp now owns 46,800 shares of the technology company’s stock valued at $10,288,000 after purchasing an additional 40,000 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $227.31 on Friday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $266.45. The firm has a market capitalization of $210.78 billion, a P/E ratio of 35.46, a P/E/G ratio of 5.81 and a beta of 0.67. The company’s fifty day moving average price is $251.46 and its 200 day moving average price is $232.41.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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 firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.94%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

IBM has been the topic of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Monday, January 27th. UBS Group increased their target price on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Sanford C. Bernstein upped their price objective on 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. Finally, Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $231.13.

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.