Prudential Financial Inc. Sells 529,275 Shares of International Business Machines Co. (NYSE:IBM)

Prudential Financial Inc. lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 44.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 667,753 shares of the technology company’s stock after selling 529,275 shares during the period. Prudential Financial Inc. owned 0.07% of International Business Machines worth $146,792,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Compass Financial Services Inc purchased a new stake in International Business Machines in the fourth quarter valued at approximately $26,000. Vision Financial Markets LLC purchased a new position in International Business Machines in the fourth quarter worth $31,000. Avondale Wealth Management increased its stake in International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares during the last quarter. Valued Wealth Advisors LLC raised its position in International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after purchasing an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC bought a new stake in International Business Machines during the fourth quarter worth about $35,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.2 %

NYSE:IBM opened at $243.75 on Monday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The firm’s 50-day moving average price is $246.77 and its 200-day moving average price is $230.09. The company has a market capitalization of $226.02 billion, a PE ratio of 38.03, a P/E/G ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $266.45.

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

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the topic of a number of research reports. Sanford C. Bernstein raised their price objective on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. BMO Capital Markets increased their target price on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a 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. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday, March 15th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $231.44.

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.