International Business Machines Co. (NYSE:IBM) Shares Sold by Worth Asset Management LLC

Worth Asset Management LLC cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 60.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,508 shares of the technology company’s stock after selling 5,438 shares during the period. Worth Asset Management LLC’s holdings in International Business Machines were worth $771,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lantz Financial LLC lifted its position in International Business Machines by 0.9% in the second quarter. Lantz Financial LLC now owns 11,935 shares of the technology company’s stock valued at $2,064,000 after purchasing an additional 107 shares during the period. LGT Fund Management Co Ltd. purchased a new stake in shares of International Business Machines in the second quarter valued at approximately $259,000. Royal London Asset Management Ltd. grew its holdings in International Business Machines by 3.3% during the second quarter. Royal London Asset Management Ltd. now owns 386,427 shares of the technology company’s stock worth $66,833,000 after acquiring an additional 12,428 shares during the period. Sachetta LLC raised its position in International Business Machines by 2.6% in the second quarter. Sachetta LLC now owns 2,962 shares of the technology company’s stock worth $566,000 after acquiring an additional 76 shares in the last quarter. Finally, Levin Capital Strategies L.P. lifted its holdings in International Business Machines by 10.7% in the second quarter. Levin Capital Strategies L.P. now owns 116,071 shares of the technology company’s stock valued at $20,074,000 after acquiring an additional 11,190 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by company insiders.

International Business Machines Trading Down 0.8 %

Shares of International Business Machines stock traded down $1.76 during trading hours on Wednesday, reaching $222.20. 953,529 shares of the company’s stock were exchanged, compared to its average volume of 2,699,258. The firm has a market capitalization of $205.46 billion, a price-to-earnings ratio of 32.34, a price-to-earnings-growth ratio of 5.18 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 52-week low of $159.51 and a 52-week high of $239.35. The company has a fifty day moving average of $221.01 and a 200-day moving average of $208.49.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the company earned $2.20 EPS. Sell-side analysts forecast that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on IBM shares. Sanford C. Bernstein increased their price target on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Morgan Stanley lifted their price target on shares of International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Evercore ISI upped their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Bank of America lifted their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets raised their price target on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $214.88.

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.