Connor Clark & Lunn Investment Management Ltd. Decreases Holdings in International Business Machines Co. (NYSE:IBM)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 31.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 97,622 shares of the technology company’s stock after selling 44,595 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in International Business Machines were worth $21,460,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of IBM. Compass Financial Services Inc purchased a new position in shares of International Business Machines in the fourth quarter worth about $26,000. Vision Financial Markets LLC purchased a new position in shares of International Business Machines in the fourth quarter worth about $31,000. Avondale Wealth Management increased its stake in shares of International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares in the last quarter. Valued Wealth Advisors LLC increased its stake in shares of International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after purchasing an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC purchased a new position in shares of International Business Machines in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 1.6 %

Shares of International Business Machines stock opened at $245.67 on Friday. The firm has a market cap of $227.80 billion, a PE ratio of 38.33, a PEG ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. The company has a 50 day simple moving average of $243.72 and a two-hundred day simple moving average of $227.70.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping 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%. 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 disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.72%. International Business Machines’s payout ratio is 104.21%.

Insider Transactions at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were 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 directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the subject of several recent research reports. Wedbush initiated coverage on shares of International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating for the company. BMO Capital Markets raised their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Sanford C. Bernstein raised their price objective on shares of 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. Morgan Stanley raised their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Finally, UBS Group raised their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.