Close Asset Management Ltd Lowers Holdings in International Business Machines Co. (NYSE:IBM)

Close Asset Management Ltd cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 50.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,083 shares of the technology company’s stock after selling 2,083 shares during the quarter. Close Asset Management Ltd’s holdings in International Business Machines were worth $458,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in International Business Machines by 2.2% during 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 period. FMR LLC grew its position in shares of 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 in the last quarter. Swiss National Bank increased its stake in shares of International Business Machines by 0.5% during the third 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. International Assets Investment Management LLC raised its holdings in International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after acquiring an additional 2,702,340 shares in the last quarter. Finally, Holocene Advisors LP purchased a new position in International Business Machines in the third quarter worth approximately $573,306,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday. Wedbush initiated coverage on International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. increased their price objective on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Stifel Nicolaus boosted 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. Finally, BMO Capital Markets increased their price target on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $225.53.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $252.31 on Friday. International Business Machines Co. has a one year low of $162.62 and a one year high of $265.72. The stock has a market capitalization of $233.30 billion, a price-to-earnings ratio of 39.36, a PEG ratio of 5.63 and a beta of 0.76. The company has a 50-day simple moving average of $229.26 and a 200-day simple moving average of $216.45. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, analysts predict that International Business Machines Co. will post 10.73 EPS for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.65%. International Business Machines’s dividend payout ratio is currently 104.21%.

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.