Corient Private Wealth LLC Sells 47,429 Shares of International Business Machines Co. (NYSE:IBM)

Corient Private Wealth LLC lessened its holdings in International Business Machines Co. (NYSE:IBM) by 10.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 407,682 shares of the technology company’s stock after selling 47,429 shares during the quarter. Corient Private Wealth LLC’s holdings in International Business Machines were worth $87,518,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp boosted its position in shares of International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in International Business Machines by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company’s stock valued at $1,465,223,000 after buying an additional 126,547 shares during the period. FMR LLC boosted its holdings in International Business Machines by 6.0% during the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after buying an additional 294,276 shares during the last quarter. Swiss National Bank grew its position in shares of International Business Machines by 0.5% during the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock worth $602,819,000 after buying an additional 12,400 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of International Business Machines in the 4th quarter valued at about $592,746,000. 58.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IBM. UBS Group boosted their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. Morgan Stanley raised their price target on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price objective 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. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Price Performance

NYSE:IBM opened at $248.15 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The firm has a fifty day simple moving average of $244.23 and a 200 day simple moving average of $228.47. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $266.45. The stock has a market capitalization of $230.10 billion, a PE ratio of 38.71, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its 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%. On average, research analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.69%. International Business Machines’s dividend payout ratio is currently 104.21%.

International Business Machines 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.