International Business Machines Co. (NYSE:IBM) Stake Reduced by Janney Capital Management LLC

Janney Capital Management LLC cut its holdings in International Business Machines Co. (NYSE:IBM) by 15.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 85,329 shares of the technology company’s stock after selling 16,065 shares during the quarter. International Business Machines accounts for about 1.2% of Janney Capital Management LLC’s portfolio, making the stock its 16th biggest position. Janney Capital Management LLC’s holdings in International Business Machines were worth $18,758,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in IBM. EverSource Wealth Advisors LLC raised its holdings in shares of International Business Machines by 6.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,555 shares of the technology company’s stock valued at $491,000 after acquiring an additional 150 shares during the period. Public Sector Pension Investment Board raised its stake in International Business Machines by 72.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 35,496 shares of the technology company’s stock valued at $6,139,000 after purchasing an additional 14,874 shares during the period. Evergreen Capital Management LLC raised its position in International Business Machines by 16.2% during the second quarter. Evergreen Capital Management LLC now owns 12,687 shares of the technology company’s stock valued at $2,194,000 after buying an additional 1,768 shares during the period. Resources Management Corp CT ADV raised its position in International Business Machines by 2.6% during the second quarter. Resources Management Corp CT ADV now owns 26,886 shares of the technology company’s stock valued at $4,650,000 after buying an additional 692 shares during the period. Finally, Providence Capital Advisors LLC raised its position in International Business Machines by 1.0% during the second quarter. Providence Capital Advisors LLC now owns 17,204 shares of the technology company’s stock valued at $2,975,000 after buying an additional 163 shares during the period. 58.96% of the stock is currently owned by 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 value of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

Shares of IBM stock opened at $220.62 on Wednesday. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $239.35. The firm’s 50 day moving average is $223.36 and its 200-day moving average is $211.82. The firm has a market capitalization of $204.00 billion, a price-to-earnings ratio of 32.20, a PEG 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 (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the prior year, the business earned $2.20 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Sell-side analysts forecast that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.03%. International Business Machines’s payout ratio is presently 97.23%.

Analysts Set New Price Targets

IBM has been the topic of a number of research reports. Jefferies Financial Group upped their target price on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Morgan Stanley upped their price target on shares of International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Sanford C. Bernstein increased their price objective on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Finally, Bernstein Bank increased their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.