Beacon Pointe Advisors LLC Lowers Stake in International Business Machines Co. (NYSE:IBM)

Beacon Pointe Advisors LLC reduced its stake in International Business Machines Co. (NYSE:IBM - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 212,381 shares of the technology company's stock after selling 4,603 shares during the period. Beacon Pointe Advisors LLC's holdings in International Business Machines were worth $46,688,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of International Business Machines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock worth $20,189,023,000 after purchasing an additional 1,539,888 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of International Business Machines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company's stock valued at $4,589,145,000 after purchasing an additional 427,499 shares during the last quarter. Capital World Investors increased its position in shares of International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in International Business Machines by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company's stock worth $1,465,223,000 after acquiring an additional 126,547 shares during the period. Finally, Norges Bank purchased a new stake in International Business Machines in the 4th quarter worth approximately $1,236,176,000. 58.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on IBM. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a "hold" rating in a report on Thursday. The Goldman Sachs Group reaffirmed a "buy" rating on shares of International Business Machines in a research note on Wednesday, February 5th. UBS Group reaffirmed a "sell" rating and set a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a research note on Wednesday. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research note on Wednesday. Finally, Sanford C. Bernstein boosted their target price on International Business Machines from $210.00 to $215.00 and gave the company 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 given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $242.41.

Insiders Place Their Bets

In other 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 transaction 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 $11,387,221.07. This represents a 37.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.18% of the stock is owned by corporate insiders.

International Business Machines Price Performance

Shares of NYSE IBM opened at $232.50 on Monday. The stock has a market capitalization of $215.59 billion, a price-to-earnings ratio of 36.27, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. The firm has a 50-day simple moving average of $245.34 and a 200-day simple moving average of $233.92.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. The business had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, equities analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Monday, February 10th. International Business Machines's payout ratio is 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.

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