Edgestream Partners L.P. Sells 161 Shares of International Business Machines Co. (NYSE:IBM)

Edgestream Partners L.P. reduced its holdings in International Business Machines Co. (NYSE:IBM) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,143 shares of the technology company’s stock after selling 161 shares during the quarter. Edgestream Partners L.P.’s holdings in International Business Machines were worth $1,350,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Destination Wealth Management grew its position in shares of International Business Machines by 61.8% in the 4th quarter. Destination Wealth Management now owns 3,720 shares of the technology company’s stock worth $818,000 after buying an additional 1,421 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its position in shares of International Business Machines by 82.0% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 16,178 shares of the technology company’s stock valued at $3,556,000 after purchasing an additional 7,290 shares in the last quarter. Callan Family Office LLC boosted its position in shares of International Business Machines by 615.5% during the fourth quarter. Callan Family Office LLC now owns 8,822 shares of the technology company’s stock valued at $1,939,000 after purchasing an additional 7,589 shares in the last quarter. EagleClaw Capital Managment LLC boosted its position in shares of International Business Machines by 3.3% during the fourth quarter. EagleClaw Capital Managment LLC now owns 17,697 shares of the technology company’s stock valued at $3,890,000 after purchasing an additional 570 shares in the last quarter. Finally, Chatham Capital Group Inc. boosted its position in shares of International Business Machines by 62.1% during the fourth quarter. Chatham Capital Group Inc. now owns 4,157 shares of the technology company’s stock valued at $914,000 after purchasing an additional 1,592 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the topic of several research reports. Oppenheimer initiated coverage on International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target on the stock. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Bank of America lifted their price target on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Jefferies Financial Group boosted their target price on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $231.44.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $256.93 on Tuesday. The firm’s 50-day moving average price is $242.03 and its 200-day moving average price is $227.05. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The company has a market cap of $238.24 billion, a PE ratio of 40.08, a PEG ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45.

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

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

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.