Federated Hermes Inc. Sells 35,040 Shares of International Business Machines Co. (NYSE:IBM)

Federated Hermes Inc. reduced its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 24.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,997 shares of the technology company's stock after selling 35,040 shares during the quarter. Federated Hermes Inc.'s holdings in International Business Machines were worth $23,741,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IBM. JBR Co Financial Management Inc boosted its holdings in shares of International Business Machines by 0.6% in the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company's stock worth $1,405,000 after buying an additional 40 shares during the period. Schechter Investment Advisors LLC boosted its stake in International Business Machines by 0.7% in the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock worth $1,396,000 after purchasing an additional 43 shares during the period. Titleist Asset Management LLC grew its position in International Business Machines by 3.1% during the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock worth $315,000 after purchasing an additional 43 shares in the last quarter. Callan Capital LLC raised its stake in International Business Machines by 2.4% during the 4th quarter. Callan Capital LLC now owns 1,870 shares of the technology company's stock valued at $411,000 after purchasing an additional 44 shares during the period. Finally, Marks Group Wealth Management Inc lifted its holdings in shares of International Business Machines by 0.4% in the fourth quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company's stock valued at $2,292,000 after purchasing an additional 45 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on IBM shares. UBS Group lifted their price target on International Business Machines from $150.00 to $160.00 and gave the company a "sell" rating in a report on Tuesday, January 14th. BMO Capital Markets lifted their target price on International Business Machines from $260.00 to $280.00 and gave the company a "market perform" rating in a research note on Thursday, January 30th. The Goldman Sachs Group restated a "buy" rating on shares of International Business Machines in a report on Wednesday, February 5th. Oppenheimer started coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price objective on the stock. Finally, Bank of America lifted their target price on shares of 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 analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $231.13.

International Business Machines Stock Performance

IBM traded up $5.94 on Friday, hitting $235.49. 4,324,754 shares of the stock traded hands, compared to its average volume of 4,218,193. The business has a fifty day moving average price of $249.14 and a two-hundred day moving average price of $233.02. 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 market capitalization of $218.37 billion, a PE ratio of 36.74, a P/E/G ratio of 5.81 and a beta of 0.67. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45.

International Business Machines (NYSE:IBM - Get Free Report) last issued its 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 net margin of 9.60% and a return on equity of 38.99%. On average, research analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.84%. International Business Machines's dividend payout ratio (DPR) is presently 104.21%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on Monday, March 3rd. The stock was 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 directly owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is owned by insiders.

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.