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

Logan Capital Management Inc. lessened its holdings in International Business Machines Co. (NYSE:IBM) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 119,621 shares of the technology company’s stock after selling 2,061 shares during the quarter. International Business Machines accounts for approximately 1.1% of Logan Capital Management Inc.’s holdings, making the stock its 19th largest holding. Logan Capital Management Inc.’s holdings in International Business Machines were worth $26,296,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in IBM. Capital World Investors increased its holdings in shares of International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares during the period. Norges Bank acquired a new position in International Business Machines during the fourth quarter valued at $1,236,176,000. Raymond James Financial Inc. purchased a new stake in International Business Machines in the fourth quarter valued at $592,746,000. Northern Trust Corp lifted its holdings in shares of International Business Machines by 18.6% in the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after buying an additional 1,704,209 shares during the period. Finally, Vanguard Group Inc. raised its position in International Business Machines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after acquiring an additional 1,539,888 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

International Business Machines Trading Down 1.9%

NYSE IBM opened at $249.32 on Monday. International Business Machines Co. has a one year low of $163.53 and a one year high of $266.45. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The firm’s fifty day moving average is $243.01 and its two-hundred day moving average is $234.91. The firm has a market cap of $231.72 billion, a PE ratio of 38.90, a P/E/G ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The business had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. During the same period last year, the firm earned $1.68 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. Analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a $1.68 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.70%. International Business Machines’s dividend payout ratio is currently 115.66%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IBM. Royal Bank of Canada reiterated an “outperform” rating and issued a $276.00 target price on shares of International Business Machines in a research note on Monday, April 14th. Bank of America raised their price objective on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. UBS Group reiterated a “sell” rating and issued a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Citigroup reiterated an “outperform” rating on shares of International Business Machines in a research note on Saturday. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $248.50.

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.