Cohen Klingenstein LLC Lowers Stock Position in International Business Machines Co. (NYSE:IBM)

Cohen Klingenstein LLC decreased its position in International Business Machines Co. (NYSE:IBM - Free Report) by 7.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,167 shares of the technology company's stock after selling 2,548 shares during the period. Cohen Klingenstein LLC's holdings in International Business Machines were worth $6,851,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Hazlett Burt & Watson Inc. boosted its position in shares of International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company's stock valued at $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC bought a new position in shares of International Business Machines during the 3rd quarter worth approximately $29,000. Avondale Wealth Management grew 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 worth $34,000 after buying an additional 56 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines in the 2nd quarter valued at $36,000. Finally, Modus Advisors LLC acquired a new position in shares of International Business Machines during the 4th quarter valued at $40,000. Institutional investors own 58.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IBM. DZ Bank downgraded shares of International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 price target for the company. in a research note on Wednesday, October 2nd. Stifel Nicolaus boosted their target price on International Business Machines from $205.00 to $246.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. The Goldman Sachs Group increased their price target on International Business Machines from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Morgan Stanley boosted their price objective on International Business Machines from $208.00 to $222.00 and gave the company an "equal weight" rating in a report on Monday, December 16th. Finally, Jefferies Financial Group increased their target price on International Business Machines from $200.00 to $245.00 and gave the stock a "hold" rating in a report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $215.81.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.07% of the stock is owned by company insiders.

International Business Machines Stock Performance

Shares of International Business Machines stock traded up $2.07 during trading hours on Friday, hitting $224.73. 5,481,686 shares of the company's stock traded hands, compared to its average volume of 2,994,162. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The stock has a market capitalization of $207.80 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 4.71 and a beta of 0.74. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $239.35. The company has a fifty day simple moving average of $222.87 and a 200-day simple moving average of $210.66.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts' consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion for the quarter, compared to analysts' expectations of $15.08 billion. During the same quarter in the previous year, the firm posted $2.20 EPS. International Business Machines's revenue was up 1.5% on a year-over-year basis. Equities research analysts anticipate that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines's payout ratio is currently 97.23%.

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.