International Business Machines Co. (NYSE:IBM) Stake Cut by Convergence Investment Partners LLC

Convergence Investment Partners LLC cut its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 34.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 21,551 shares of the technology company's stock after selling 11,273 shares during the period. International Business Machines accounts for about 1.1% of Convergence Investment Partners LLC's holdings, making the stock its 18th biggest position. Convergence Investment Partners LLC's holdings in International Business Machines were worth $4,737,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. State Street Corp increased its stake in International Business Machines by 2.2% in 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 purchasing an additional 1,200,803 shares during the last quarter. FMR LLC grew its holdings in International Business Machines by 6.0% in the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company's stock valued at $1,148,717,000 after buying an additional 294,276 shares during the period. Swiss National Bank increased its stake in shares of International Business Machines by 0.5% during the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company's stock valued at $602,819,000 after acquiring an additional 12,400 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company's stock worth $600,373,000 after acquiring an additional 2,702,340 shares during the period. Finally, Holocene Advisors LP acquired a new stake in shares of International Business Machines in the third quarter worth approximately $573,306,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on IBM. Sanford C. Bernstein upped their price target on shares of International Business Machines from $210.00 to $215.00 and gave the stock a "market perform" rating in a research report on Friday, January 3rd. UBS Group upped their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a "sell" rating in a report on Tuesday, January 14th. Royal Bank of Canada reiterated an "outperform" rating and issued a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Jefferies Financial Group upped their price target on International Business Machines from $245.00 to $270.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. Finally, Bank of America lifted their price objective on International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $231.44.

International Business Machines Stock Down 1.1 %

IBM stock traded down $2.97 during trading on Friday, reaching $261.77. The stock had a trading volume of 5,665,344 shares, compared to its average volume of 4,735,325. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The firm has a fifty day moving average price of $234.65 and a 200 day moving average price of $221.26. The company has a market capitalization of $242.05 billion, a P/E ratio of 40.84, a PEG ratio of 5.80 and a beta of 0.76. International Business Machines Co. has a 1-year low of $162.62 and a 1-year 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 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, equities analysts anticipate that International Business Machines Co. will post 10.77 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.55%. International Business Machines's dividend payout ratio (DPR) is presently 104.21%.

About International Business Machines

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.