Adage Capital Partners GP L.L.C. Sells 143,800 Shares of International Business Machines Co. (NYSE:IBM)

Adage Capital Partners GP L.L.C. cut its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 13.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 934,490 shares of the technology company's stock after selling 143,800 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.10% of International Business Machines worth $205,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of IBM. Compass Financial Services Inc bought a new position in International Business Machines in the fourth quarter valued at $26,000. Vision Financial Markets LLC purchased a new position in shares of International Business Machines in the 4th quarter worth about $31,000. Avondale Wealth Management increased its position in shares of International Business Machines by 56.0% during the 4th 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 last quarter. Valued Wealth Advisors LLC raised its holdings in shares of International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock valued at $35,000 after buying an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC bought a new stake in International Business Machines in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on IBM shares. Wedbush began coverage on shares of International Business Machines in a research note on Monday, February 3rd. They set an "outperform" rating on the stock. Oppenheimer assumed coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price target for the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $276.00 price objective on shares of International Business Machines in a research note on Monday, April 14th. Jefferies Financial Group lowered their target price on International Business Machines from $270.00 to $265.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Finally, BMO Capital Markets raised their price target on International Business Machines from $260.00 to $280.00 and gave the stock a "market perform" rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $232.75.

Insider Transactions at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the business's stock in a transaction that occurred 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 sale, the senior vice president now directly owns 45,007 shares of the company's stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.18% of the company's stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $241.28 on Wednesday. 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 Co. has a 1 year low of $162.62 and a 1 year high of $266.45. The company's 50-day moving average is $246.87 and its 200 day moving average is $233.79. The stock has a market capitalization of $223.73 billion, a P/E ratio of 37.64, a P/E/G ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM - Get Free Report) last announced 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 return on equity of 38.99% and a net margin of 9.60%. On average, sell-side analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced 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. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines's dividend payout ratio (DPR) is presently 104.21%.

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.

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