Amalgamated Bank Sells 3,998 Shares of International Business Machines Co. (NYSE:IBM)

Amalgamated Bank reduced its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 180,306 shares of the technology company's stock after selling 3,998 shares during the quarter. Amalgamated Bank's holdings in International Business Machines were worth $39,637,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. State Street Corp raised its holdings in 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 worth $12,307,940,000 after acquiring an additional 1,200,803 shares during the last quarter. FMR LLC lifted its holdings in shares of International Business Machines by 6.0% during the third quarter. FMR LLC now owns 5,195,933 shares of the technology company's stock valued at $1,148,717,000 after purchasing an additional 294,276 shares in the last quarter. Swiss National Bank increased its holdings in International Business Machines by 0.5% in the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company's stock worth $602,819,000 after buying an additional 12,400 shares in the last quarter. Holocene Advisors LP bought a new position in International Business Machines during the 3rd quarter valued at about $573,306,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of International Business Machines by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,473,421 shares of the technology company's stock worth $546,824,000 after acquiring an additional 32,732 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wedbush began coverage on International Business Machines in a report on Monday, February 3rd. They issued an "outperform" rating on the stock. Morgan Stanley increased 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 note on Thursday, January 30th. Bank of America increased their price target on shares of International Business Machines from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Jefferies Financial Group boosted their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the company a "hold" 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 issued an "outperform" rating and a $320.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, International Business Machines has a consensus rating of "Hold" and a consensus price target of $231.44.

International Business Machines Price Performance

Shares of IBM traded down $4.75 during midday trading on Tuesday, hitting $257.12. 6,292,116 shares of the company traded hands, compared to its average volume of 4,769,297. The stock has a market cap of $237.74 billion, a price-to-earnings ratio of 40.11, a PEG ratio of 5.81 and a beta of 0.76. The firm has a 50 day moving average of $236.49 and a 200-day moving average of $223.25. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $265.72.

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

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Monday, February 10th. International Business Machines's payout ratio is 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.