International Business Machines Co. (NYSE:IBM) Position Reduced by Wright Investors Service Inc.

Wright Investors Service Inc. reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 49.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 9,332 shares of the technology company’s stock after selling 9,009 shares during the quarter. Wright Investors Service Inc.’s holdings in International Business Machines were worth $2,051,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tealwood Asset Management Inc. grew its stake in International Business Machines by 19.6% in the fourth quarter. Tealwood Asset Management Inc. now owns 2,474 shares of the technology company’s stock worth $544,000 after purchasing an additional 406 shares in the last quarter. Grandview Asset Management LLC acquired a new position in shares of International Business Machines in the 4th quarter worth approximately $1,189,000. Marcum Wealth LLC increased its holdings in shares of International Business Machines by 0.5% in the 4th quarter. Marcum Wealth LLC now owns 10,127 shares of the technology company’s stock valued at $2,226,000 after acquiring an additional 52 shares during the last quarter. Traveka Wealth LLC acquired a new stake in shares of International Business Machines during the 4th quarter valued at approximately $209,000. Finally, FNY Investment Advisers LLC bought a new position in International Business Machines during the fourth quarter worth $879,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 1.1 %

International Business Machines stock opened at $217.39 on Tuesday. The firm has a 50 day simple moving average of $222.14 and a 200-day simple moving average of $209.84. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The stock has a market capitalization of $201.01 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $239.35.

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, 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 firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period last year, the company posted $2.20 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts expect that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Wall Street Analyst Weigh In

Several analysts have weighed in on IBM shares. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. Jefferies Financial Group increased their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Bank of America lifted their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Bernstein Bank increased their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Finally, StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $214.88.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction on Friday, November 8th. The stock was 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 directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.07% 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.