Genesee Capital Advisors LLC Cuts Stake in International Business Machines Co. (NYSE:IBM)

Genesee Capital Advisors LLC reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 4.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,423 shares of the technology company’s stock after selling 309 shares during the quarter. Genesee Capital Advisors LLC’s holdings in International Business Machines were worth $1,412,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp lifted its position in 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 last quarter. FMR LLC increased its stake 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 worth $1,148,717,000 after buying an additional 294,276 shares during the period. Swiss National Bank raised its holdings in International Business Machines by 0.5% during the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after buying an additional 12,400 shares during the last quarter. International Assets Investment Management LLC grew its holdings in International Business Machines by 20,324.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after acquiring an additional 2,702,340 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in shares of International Business Machines during the third quarter valued at about $573,306,000. Institutional investors own 58.96% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

Shares of IBM opened at $225.34 on Wednesday. The company has a market capitalization of $208.36 billion, a P/E ratio of 32.80, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $239.35. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a 50 day moving average of $224.65 and a 200 day moving average of $213.14.

Analysts Set New Price Targets

IBM has been the topic of a number of research analyst reports. Morgan Stanley reduced their price target on International Business Machines from $222.00 to $217.00 and set an “equal weight” rating on the stock in a report on Tuesday. Stifel Nicolaus lifted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Jefferies Financial Group raised their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. UBS Group raised their price objective 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. Finally, Sanford C. Bernstein increased their target price 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $220.40.

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.