Minneapolis Portfolio Management Group LLC Sells 56,477 Shares of International Business Machines Co. (NYSE:IBM)

Minneapolis Portfolio Management Group LLC decreased its position in International Business Machines Co. (NYSE:IBM) by 31.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,269 shares of the technology company’s stock after selling 56,477 shares during the quarter. International Business Machines accounts for 3.6% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 13th biggest holding. Minneapolis Portfolio Management Group LLC’s holdings in International Business Machines were worth $27,538,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Compass Financial Services Inc purchased a new position in shares of International Business Machines in the 4th quarter worth approximately $26,000. Vision Financial Markets LLC purchased a new position in shares of International Business Machines in the 4th quarter worth approximately $31,000. Avondale Wealth Management boosted its holdings in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares during the period. Valued Wealth Advisors LLC boosted its holdings in shares of International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after purchasing an additional 90 shares during the period. Finally, Rialto Wealth Management LLC purchased a new position in shares of International Business Machines in the 4th quarter worth approximately $35,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM stock opened at $243.75 on Monday. The stock has a market capitalization of $226.02 billion, a price-to-earnings ratio of 38.03, a P/E/G 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 Co. has a twelve month low of $162.62 and a twelve month high of $266.45. The stock has a fifty day simple moving average of $246.77 and a two-hundred day simple moving average of $230.09.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS 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, analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. UBS Group lifted their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Oppenheimer assumed coverage on International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price for the company. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday, March 15th. Finally, Morgan Stanley boosted their price objective on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average target price of $231.44.

Insider Transactions at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction 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 $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

International Business Machines Company Profile

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.