International Business Machines Co. (NYSE:IBM) Stock Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in International Business Machines Co. (NYSE:IBM) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,793,893 shares of the technology company’s stock after selling 486,308 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.84% of International Business Machines worth $1,713,332,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Holocene Advisors LP acquired a new stake in shares of International Business Machines during the third quarter worth $573,306,000. State Street Corp grew its position in shares of International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after buying an additional 1,200,803 shares during the last quarter. KBC Group NV raised its stake in International Business Machines by 90.4% during the fourth quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after acquiring an additional 800,930 shares during the period. Strategic Financial Concepts LLC lifted its holdings in International Business Machines by 23,311.1% in the fourth quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock worth $153,262,000 after acquiring an additional 694,204 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its stake in International Business Machines by 587.1% in the third quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock valued at $134,262,000 after acquiring an additional 536,785 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Up 0.2 %

Shares of IBM stock opened at $262.12 on Tuesday. 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 stock has a market cap of $242.37 billion, a PE ratio of 40.89, a price-to-earnings-growth ratio of 5.81 and a beta of 0.76. The business’s fifty day moving average is $235.92 and its 200-day moving average is $222.79. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Equities analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on IBM shares. JPMorgan Chase & Co. increased their price target on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. BMO Capital Markets upped their price target on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Finally, UBS Group boosted their target price on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $231.44.

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.