ING Groep NV Reduces Stock Holdings in International Business Machines Co. (NYSE:IBM)

ING Groep NV reduced its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 8.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 277,952 shares of the technology company's stock after selling 26,522 shares during the period. ING Groep NV's holdings in International Business Machines were worth $61,102,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in IBM. Trilogy Capital Inc. purchased a new position in shares of International Business Machines in the third quarter valued at about $203,000. Foundations Investment Advisors LLC increased its holdings in International Business Machines by 5.7% during the 3rd quarter. Foundations Investment Advisors LLC now owns 30,301 shares of the technology company's stock valued at $6,699,000 after purchasing an additional 1,626 shares during the period. Calton & Associates Inc. bought a new position in International Business Machines during the 3rd quarter valued at approximately $237,000. Eastern Bank lifted its holdings in International Business Machines by 1,392.9% in the 3rd quarter. Eastern Bank now owns 22,453 shares of the technology company's stock worth $4,964,000 after buying an additional 20,949 shares during the period. Finally, BLB&B Advisors LLC grew its position in shares of International Business Machines by 0.9% in the 3rd quarter. BLB&B Advisors LLC now owns 23,929 shares of the technology company's stock worth $5,290,000 after buying an additional 222 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on IBM. JPMorgan Chase & Co. raised their price target on International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. StockNews.com raised shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Wednesday, February 5th. Bank of America boosted their price target on shares of International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Jefferies Financial Group raised their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Two equities 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 MarketBeat, International Business Machines has an average rating of "Hold" and a consensus price target of $231.44.

International Business Machines Stock Down 1.1 %

Shares of NYSE IBM traded down $2.97 during midday trading on Friday, hitting $261.77. The stock had a trading volume of 5,551,538 shares, compared to its average volume of 4,677,125. The business's 50 day moving average is $234.65 and its 200-day moving average is $221.26. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $265.72. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The company has a market cap 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 (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts predict that International Business Machines Co. will post 10.77 EPS for the current year.

International Business Machines Dividend Announcement

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