M&G PLC Reduces Stock Position in International Business Machines Corporation $IBM

M&G PLC trimmed its holdings in International Business Machines Corporation (NYSE:IBM) by 62.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,847 shares of the technology company’s stock after selling 9,865 shares during the period. M&G PLC’s holdings in International Business Machines were worth $1,649,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in IBM. Brighton Jones LLC increased its position in shares of International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after purchasing an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC grew its stake in International Business Machines by 10.6% in the second quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company’s stock worth $571,000 after purchasing an additional 186 shares in the last quarter. Lyell Wealth Management LP increased its holdings in International Business Machines by 27.7% in the second quarter. Lyell Wealth Management LP now owns 2,434 shares of the technology company’s stock valued at $717,000 after buying an additional 528 shares during the last quarter. Princeton Global Asset Management LLC raised its stake in International Business Machines by 58.9% during the second quarter. Princeton Global Asset Management LLC now owns 1,244 shares of the technology company’s stock valued at $367,000 after buying an additional 461 shares in the last quarter. Finally, WESPAC Advisors SoCal LLC lifted its holdings in International Business Machines by 5.0% during the 2nd quarter. WESPAC Advisors SoCal LLC now owns 7,521 shares of the technology company’s stock worth $2,217,000 after buying an additional 359 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on International Business Machines from $312.00 to $317.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Sanford C. Bernstein reiterated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, December 10th. Oppenheimer set a $380.00 target price on shares of International Business Machines and gave the stock an “outperform” rating in a report on Thursday, January 29th. Dbs Bank raised shares of International Business Machines from a “hold” rating to a “moderate buy” rating in a report on Monday, January 19th. Finally, Royal Bank Of Canada set a $361.00 price objective on shares of International Business Machines in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $330.07.

Insiders Place Their Bets

In related news, Director David N. Farr bought 1,000 shares of the stock in a transaction on Friday, January 30th. The shares were purchased at an average price of $304.00 per share, with a total value of $304,000.00. Following the purchase, the director owned 9,258 shares in the company, valued at approximately $2,814,432. This represents a 12.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by insiders.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $258.25 on Wednesday. The firm’s 50 day moving average is $297.26 and its two-hundred day moving average is $284.32. The firm has a market capitalization of $241.39 billion, a P/E ratio of 23.16, a PEG ratio of 2.63 and a beta of 0.69. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 1.67. International Business Machines Corporation has a 52 week low of $214.50 and a 52 week high of $324.90.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 28th. The technology company reported $4.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.33 by $0.19. The business had revenue of $19.69 billion during the quarter, compared to analyst estimates of $19.23 billion. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.92 EPS. Analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, February 10th. International Business Machines’s payout ratio is currently 60.27%.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.