Te Ahumairangi Investment Management Ltd Sells 11,803 Shares of International Business Machines Co. (NYSE:IBM)

Te Ahumairangi Investment Management Ltd lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 35.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,537 shares of the technology company’s stock after selling 11,803 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in International Business Machines were worth $4,734,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of IBM. Norges Bank purchased a new position in shares of International Business Machines during the fourth quarter valued at $1,236,176,000. Raymond James Financial Inc. purchased a new position in International Business Machines during the 4th quarter valued at about $592,746,000. Vanguard Group Inc. increased its position in International Business Machines by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after purchasing an additional 1,539,888 shares during the period. State Street Corp raised its holdings 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 valued at $12,307,940,000 after purchasing an additional 1,200,803 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of International Business Machines by 90.4% during the fourth quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock valued at $370,909,000 after purchasing an additional 800,930 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IBM. JPMorgan Chase & Co. boosted their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Wedbush began coverage on International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating for the company. Bank of America lifted their target price on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Finally, Morgan Stanley lifted their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $231.13.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were 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 in the company, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by company insiders.

International Business Machines Stock Performance

Shares of IBM opened at $250.34 on Wednesday. The stock has a 50-day moving average of $250.52 and a two-hundred day moving average of $232.13. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The stock has a market cap of $232.13 billion, a P/E ratio of 39.05, a P/E/G ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a one year low of $162.62 and a one 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 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, research analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.67%. International Business Machines’s payout ratio is currently 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.