Channing Capital Management LLC Sells 4,181 Shares of International Business Machines Co. (NYSE:IBM)

Channing Capital Management LLC lessened its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 10.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,421 shares of the technology company's stock after selling 4,181 shares during the quarter. Channing Capital Management LLC's holdings in International Business Machines were worth $8,226,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp raised its position in International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company's stock valued at $12,307,940,000 after acquiring an additional 1,200,803 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of 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 valued at $1,465,223,000 after purchasing an additional 126,547 shares during the period. FMR LLC raised its position in shares of International Business Machines by 6.0% in 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 during the period. Swiss National Bank raised its position in shares of International Business Machines by 0.5% in the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company's stock valued at $602,819,000 after purchasing an additional 12,400 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of International Business Machines in the fourth quarter valued at approximately $592,746,000. Institutional investors own 58.96% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research firms have recently commented on IBM. Sanford C. Bernstein lifted their price target on shares of 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. Wedbush began coverage on shares of International Business Machines in a research report on Monday, February 3rd. They issued an "outperform" rating on the stock. StockNews.com raised shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Friday. Oppenheimer began coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price target on the stock. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of International Business Machines in a research report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $231.44.

International Business Machines Price Performance

Shares of NYSE:IBM traded down $7.87 on Tuesday, hitting $249.03. The stock had a trading volume of 5,629,213 shares, compared to its average volume of 3,921,297. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $266.45. 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 firm's 50 day moving average price is $242.61 and its 200-day moving average price is $227.42. The company has a market capitalization of $230.92 billion, a price-to-earnings ratio of 38.85, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, equities research analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.68%. International Business Machines's dividend payout ratio is presently 104.21%.

Insider Activity

In related 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 transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is owned by corporate insiders.

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.