International Business Machines Co. (NYSE:IBM) Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. cut its stake in International Business Machines Co. (NYSE:IBM) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,360 shares of the technology company’s stock after selling 118 shares during the quarter. Addenda Capital Inc.’s holdings in International Business Machines were worth $9,092,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its holdings in International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after acquiring an additional 166 shares during the period. Brady Martz Wealth Solutions LLC acquired a new position in shares of International Business Machines during the 4th quarter worth approximately $1,940,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of International Business Machines during the 2nd quarter worth approximately $7,160,000. Philip James Wealth Mangement LLC acquired a new position in shares of International Business Machines during the 3rd quarter worth approximately $5,117,000. Finally, Nordea Investment Management AB raised its stake in shares of International Business Machines by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after buying an additional 4,625 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

NYSE IBM opened at $224.73 on Tuesday. The stock has a market cap of $207.80 billion, a PE ratio of 32.71, a P/E/G ratio of 4.81 and a beta of 0.74. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $239.35. The stock has a fifty day simple moving average of $222.87 and a 200-day simple moving average of $211.14.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same period last year, the business posted $2.20 EPS. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts anticipate that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

IBM has been the subject of several research analyst reports. Stifel Nicolaus upped their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. UBS Group increased their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. BMO Capital Markets increased their price objective on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Finally, StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $216.87.

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.