International Business Machines Co. (NYSE:IBM) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 12.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,953 shares of the technology company’s stock after selling 7,053 shares during the quarter. Great Lakes Advisors LLC’s holdings in International Business Machines were worth $10,761,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBM. JBR Co Financial Management Inc boosted its position in International Business Machines by 0.6% during the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock worth $1,405,000 after purchasing an additional 40 shares in the last quarter. Schechter Investment Advisors LLC boosted its position in International Business Machines by 0.7% during the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock worth $1,396,000 after purchasing an additional 43 shares in the last quarter. Callan Capital LLC boosted its position in International Business Machines by 2.4% during the fourth quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock worth $411,000 after purchasing an additional 44 shares in the last quarter. Marks Group Wealth Management Inc boosted its position in International Business Machines by 0.4% during the fourth quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock worth $2,292,000 after purchasing an additional 45 shares in the last quarter. Finally, Tower Wealth Partners Inc. boosted its position in International Business Machines by 1.9% during the fourth quarter. Tower Wealth Partners Inc. now owns 2,376 shares of the technology company’s stock worth $522,000 after purchasing an additional 45 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

NYSE IBM opened at $249.72 on Thursday. The business’s 50-day moving average price is $243.21 and its 200 day moving average price is $227.58. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $266.45. The company has a market capitalization of $231.56 billion, a PE ratio of 38.96, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

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

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.67%. International Business Machines’s dividend payout ratio is presently 104.21%.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction dated 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 completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IBM. Bank of America boosted their target price on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Wedbush began coverage on International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Monday, January 27th. Finally, Sanford C. Bernstein upped their price objective on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.