Cullen Capital Management LLC Lowers Stock Holdings in International Business Machines Co. (NYSE:IBM)

Cullen Capital Management LLC lessened its stake in International Business Machines Co. (NYSE:IBM) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 199,367 shares of the technology company’s stock after selling 5,961 shares during the period. Cullen Capital Management LLC’s holdings in International Business Machines were worth $43,827,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Oarsman Capital Inc. increased its holdings in shares of International Business Machines by 5.6% in the fourth quarter. Oarsman Capital Inc. now owns 10,455 shares of the technology company’s stock valued at $2,298,000 after purchasing an additional 556 shares during the period. KCM Investment Advisors LLC grew its position in International Business Machines by 2.2% in the 4th quarter. KCM Investment Advisors LLC now owns 8,916 shares of the technology company’s stock valued at $1,960,000 after buying an additional 189 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in International Business Machines in the 4th quarter valued at $69,013,000. ROI Financial Advisors LLC raised its position in International Business Machines by 11.4% during the 4th quarter. ROI Financial Advisors LLC now owns 9,319 shares of the technology company’s stock worth $2,049,000 after buying an additional 957 shares during the last quarter. Finally, Wescott Financial Advisory Group LLC lifted its stake in shares of International Business Machines by 4.5% in the 4th quarter. Wescott Financial Advisory Group LLC now owns 2,363 shares of the technology company’s stock worth $519,000 after acquiring an additional 101 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IBM has been the topic of a number of recent analyst reports. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Oppenheimer assumed coverage on International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price on the stock. JPMorgan Chase & Co. raised their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. BMO Capital Markets upped their price objective on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Finally, Sanford C. Bernstein increased their price objective on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $231.13.

International Business Machines Stock Down 6.6 %

Shares of NYSE IBM opened at $227.31 on Friday. The firm’s 50-day moving average is $251.46 and its two-hundred day moving average is $232.41. The company has a market capitalization of $210.78 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last posted 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%. Equities analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.94%. The ex-dividend date was Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is owned by insiders.

International Business Machines 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.