Associated Banc Corp Trims Stock Position in International Business Machines Co. (NYSE:IBM)

Associated Banc Corp reduced its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 12.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,924 shares of the technology company's stock after selling 2,291 shares during the period. Associated Banc Corp's holdings in International Business Machines were worth $3,501,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in International Business Machines during the 4th quarter worth about $592,746,000. Holocene Advisors LP acquired a new stake in shares of International Business Machines during the 3rd quarter valued at about $573,306,000. State Street Corp grew its position in shares of International Business Machines by 2.2% during the 3rd 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 during the period. KBC Group NV grew its position in shares of International Business Machines by 90.4% during the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company's stock valued at $370,909,000 after acquiring an additional 800,930 shares during the period. Finally, Strategic Financial Concepts LLC grew its position in shares of International Business Machines by 23,311.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company's stock valued at $153,262,000 after acquiring an additional 694,204 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of the business's stock in a transaction on 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 completion of the transaction, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IBM. Morgan Stanley raised their target price on International Business Machines from $217.00 to $228.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. Sanford C. Bernstein raised their target price on 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. Bank of America lifted their price objective on International Business Machines from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. BMO Capital Markets lifted their price objective on International Business Machines from $260.00 to $280.00 and gave the stock a "market perform" rating in a report on Thursday, January 30th. Finally, Wedbush assumed coverage on International Business Machines in a report on Monday, February 3rd. They issued an "outperform" rating on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $231.44.

International Business Machines Stock Up 2.2 %

Shares of NYSE:IBM traded up $5.41 during trading on Monday, hitting $253.76. The company's stock had a trading volume of 1,916,199 shares, compared to its average volume of 3,882,220. The business has a 50 day moving average price of $244.23 and a two-hundred day moving average price of $228.47. The company has a market capitalization of $235.30 billion, a PE ratio of 39.59, a P/E/G ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $266.45.

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

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.63%. International Business Machines's payout ratio is currently 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.