International Business Machines Co. (NYSE:IBM) Shares Sold by Claret Asset Management Corp

Claret Asset Management Corp lowered its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,915 shares of the technology company’s stock after selling 224 shares during the period. International Business Machines accounts for approximately 0.8% of Claret Asset Management Corp’s portfolio, making the stock its 29th biggest holding. Claret Asset Management Corp’s holdings in International Business Machines were worth $5,257,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of IBM. Curi RMB Capital LLC boosted its holdings in International Business Machines by 13.8% in the fourth quarter. Curi RMB Capital LLC now owns 62,183 shares of the technology company’s stock valued at $13,670,000 after purchasing an additional 7,533 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in International Business Machines by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,083,665 shares of the technology company’s stock worth $1,117,548,000 after acquiring an additional 99,510 shares during the last quarter. First Trust Advisors LP grew its stake in International Business Machines by 26.4% during the 4th quarter. First Trust Advisors LP now owns 4,023,989 shares of the technology company’s stock worth $884,593,000 after buying an additional 840,064 shares during the last quarter. Forum Financial Management LP boosted its holdings in shares of International Business Machines by 22.3% during the fourth quarter. Forum Financial Management LP now owns 8,270 shares of the technology company’s stock valued at $1,818,000 after acquiring an additional 1,506 shares during the period. Finally, Frederick Financial Consultants LLC bought a new position in International Business Machines in the 4th quarter worth about $1,402,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IBM has been the topic of a number of research analyst reports. Oppenheimer began coverage on International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $276.00 price target on shares of International Business Machines in a report on Monday, April 14th. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Jefferies Financial Group dropped their price objective on International Business Machines from $270.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, March 31st. Finally, BMO Capital Markets upped their price target on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines currently has an average rating of “Hold” and an average price target of $232.75.

International Business Machines Trading Down 0.1 %

Shares of NYSE:IBM opened at $238.45 on Friday. The company has a market capitalization of $221.10 billion, a P/E ratio of 37.20, a P/E/G ratio of 5.81 and a beta of 0.67. The business’s 50 day simple moving average is $247.61 and its 200 day simple moving average is $233.49. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. 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 (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating 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%. On average, research analysts anticipate that International Business Machines Co. will post 10.78 EPS 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. Shareholders of record on Monday, February 10th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.80%. The ex-dividend date was Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Insider Activity at International Business Machines

In other 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 transaction of $6,715,644.43. Following the transaction, the senior vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by insiders.

About International Business Machines

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.