International Business Machines Co. (NYSE:IBM) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,563 shares of the technology company’s stock after selling 626 shares during the quarter. Cannell & Spears LLC’s holdings in International Business Machines were worth $8,038,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in IBM. Compass Financial Services Inc purchased a new position in International Business Machines during the fourth quarter worth about $26,000. Vision Financial Markets LLC acquired a new stake in shares of International Business Machines in the fourth quarter worth approximately $31,000. Avondale Wealth Management grew its holdings 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 purchasing an additional 56 shares during the period. Valued Wealth Advisors LLC increased 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 worth $35,000 after purchasing an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC purchased a new position in International Business Machines during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on IBM shares. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Jefferies Financial Group raised their price objective on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Bank of America upped their target price on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Oppenheimer initiated coverage on International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price on the stock. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Down 1.0 %

Shares of International Business Machines stock opened at $243.83 on Monday. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $266.45. The stock has a market capitalization of $226.10 billion, a price-to-earnings ratio of 38.04, a PEG ratio of 5.81 and a beta of 0.74. 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 business’s 50 day simple moving average is $249.51 and its 200-day simple moving average is $231.62.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

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

Insider Buying and Selling

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

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.