Cypress Capital LLC Reduces Stock Holdings in International Business Machines Co. (NYSE:IBM)

Cypress Capital LLC lowered its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,444 shares of the technology company’s stock after selling 453 shares during the quarter. International Business Machines accounts for 0.8% of Cypress Capital LLC’s portfolio, making the stock its 20th biggest holding. Cypress Capital LLC’s holdings in International Business Machines were worth $2,736,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. State Street Corp raised its position in shares of International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after acquiring an additional 1,200,803 shares in the last quarter. FMR LLC increased its position in International Business Machines by 6.0% during the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after buying an additional 294,276 shares in the last quarter. Swiss National Bank increased its position in International Business Machines by 0.5% during the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after buying an additional 12,400 shares in the last quarter. Holocene Advisors LP acquired a new position in shares of International Business Machines in the third quarter valued at about $573,306,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of International Business Machines by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,473,421 shares of the technology company’s stock valued at $546,824,000 after purchasing an additional 32,732 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of research reports. 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. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Bank of America increased their target price on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Morgan Stanley increased their target price on 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, Jefferies Financial Group increased their price target on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Trading Down 1.1 %

IBM opened at $261.77 on Friday. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $265.72. The business has a fifty day simple moving average of $235.27 and a 200-day simple moving average of $221.81. The firm has a market cap of $242.05 billion, a P/E ratio of 40.84, a P/E/G ratio of 5.80 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities analysts expect that International Business Machines Co. will post 10.77 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 2.55%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

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.