International Business Machines Co. (NYSE:IBM) Stock Position Trimmed by Asset Dedication LLC

Asset Dedication LLC cut its position in International Business Machines Co. (NYSE:IBM) by 32.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,977 shares of the technology company’s stock after selling 8,255 shares during the quarter. Asset Dedication LLC’s holdings in International Business Machines were worth $3,732,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its position in shares of International Business Machines by 40.9% during the 3rd 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. Brady Martz Wealth Solutions LLC acquired a new position in International Business Machines in the 4th quarter valued at approximately $1,940,000. Philip James Wealth Mangement LLC acquired a new position in International Business Machines in the 3rd quarter valued at approximately $5,117,000. Nordea Investment Management AB increased its stake in International Business Machines by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock valued at $16,615,000 after buying an additional 4,625 shares during the period. Finally, M.E. Allison & CO. Inc. acquired a new position in International Business Machines in the 4th quarter valued at approximately $1,034,000. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IBM has been the topic of several research reports. UBS Group upped their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Jefferies Financial Group increased their price target 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. JPMorgan Chase & Co. increased their price target on shares of International Business Machines from $227.00 to $233.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Sanford C. Bernstein increased their price target on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines has an average rating of “Hold” and an average price target of $220.40.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

NYSE IBM opened at $225.34 on Wednesday. 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 Co. has a 1 year low of $162.62 and a 1 year high of $239.35. The company has a fifty day simple moving average of $224.95 and a 200 day simple moving average of $213.44. The company has a market cap of $208.36 billion, a P/E ratio of 32.80, a P/E/G ratio of 4.78 and a beta of 0.74.

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.