International Business Machines Co. (NYSE:IBM) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,582 shares of the technology company’s stock after selling 3,234 shares during the period. Oppenheimer Asset Management Inc.’s holdings in International Business Machines were worth $33,762,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. grew its holdings in shares of International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after buying an additional 166 shares in the last quarter. Blue Zone Wealth Advisors LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth about $242,000. Brady Martz Wealth Solutions LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth about $1,940,000. Tranquilli Financial Advisor LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth about $373,000. Finally, Philip James Wealth Mangement LLC purchased a new stake in shares of International Business Machines during the third quarter worth about $5,117,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on IBM. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Wedbush began coverage on shares of International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating for the company. Oppenheimer began coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price for the company. Morgan Stanley boosted their target price on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Finally, UBS Group boosted their target price on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $231.44.

International Business Machines Trading Down 0.8 %

NYSE IBM opened at $255.62 on Thursday. The company’s fifty day simple moving average is $237.20 and its 200-day simple moving average is $223.48. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $265.72. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The stock has a market cap of $236.35 billion, a P/E ratio of 39.88, a PEG ratio of 5.81 and a beta of 0.76.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Equities research analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued 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 2.61%. International Business Machines’s dividend payout ratio is presently 104.21%.

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.