International Business Machines Co. (NYSE:IBM) Shares Sold by Poplar Forest Capital LLC

Poplar Forest Capital LLC cut its position in shares of International Business Machines Co. (NYSE:IBM) by 33.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,831 shares of the technology company’s stock after selling 52,670 shares during the period. International Business Machines makes up 4.2% of Poplar Forest Capital LLC’s holdings, making the stock its 9th biggest holding. Poplar Forest Capital LLC’s holdings in International Business Machines were worth $22,605,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Pettinga Financial Advisors LLC purchased a new stake in International Business Machines in the third quarter valued at $221,000. Congress Asset Management Co. acquired a new stake in shares of International Business Machines during the 3rd quarter worth about $11,809,000. Baron Silver Stevens Financial Advisors LLC purchased a new stake in International Business Machines in the 3rd quarter valued at about $267,000. Summit Wealth Partners LLC lifted its position in International Business Machines by 5.5% in the third quarter. Summit Wealth Partners LLC now owns 1,934 shares of the technology company’s stock valued at $428,000 after buying an additional 101 shares during the last quarter. Finally, Stephens Inc. AR boosted its stake in International Business Machines by 4.5% during the third quarter. Stephens Inc. AR now owns 70,695 shares of the technology company’s stock worth $15,629,000 after buying an additional 3,075 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of research analyst reports. Bank of America boosted their price target on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. boosted their target price on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Morgan Stanley boosted their price objective 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, Wedbush started coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Stock Performance

Shares of IBM stock opened at $252.63 on Friday. The stock’s 50-day moving average price is $238.37 and its 200 day moving average price is $224.13. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $234.25 billion, a PE ratio of 39.41, a price-to-earnings-growth ratio of 5.81 and a beta of 0.76. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $265.72.

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%. As a group, equities research analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio 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.