CANADA LIFE ASSURANCE Co Sells 109,854 Shares of International Business Machines Co. (NYSE:IBM)

CANADA LIFE ASSURANCE Co trimmed its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 8.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,170,027 shares of the technology company's stock after selling 109,854 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.13% of International Business Machines worth $257,244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of IBM. JBR Co Financial Management Inc raised its holdings in shares of International Business Machines by 0.6% during the 4th 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 in the last quarter. Schechter Investment Advisors LLC raised its stake in International Business Machines by 0.7% during the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock worth $1,396,000 after acquiring an additional 43 shares in the last quarter. Titleist Asset Management LLC lifted its holdings in shares of International Business Machines by 3.1% in the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock worth $315,000 after acquiring an additional 43 shares during the last quarter. Callan Capital LLC boosted its stake in shares of International Business Machines by 2.4% in 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 in the last quarter. Finally, Marks Group Wealth Management Inc increased its position in International Business Machines by 0.4% during the 4th quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company's stock worth $2,292,000 after purchasing an additional 45 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Insider Activity at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $276.00 target price on shares of International Business Machines in a research note on Monday, April 14th. Sanford C. Bernstein boosted their price target on International Business Machines from $210.00 to $215.00 and gave the stock a "market perform" rating in a report on Friday, January 3rd. BMO Capital Markets raised their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a "market perform" rating in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. Finally, Oppenheimer began coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $232.75.

International Business Machines Stock Down 0.1 %

IBM traded down $0.12 during midday trading on Friday, hitting $238.45. The company had a trading volume of 4,626,569 shares, compared to its average volume of 4,227,391. The company has a market capitalization of $221.10 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 5.81 and a beta of 0.67. The stock's 50 day moving average price is $247.61 and its 200 day moving average price is $233.49. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. 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 announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (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, research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.80%. International Business Machines's dividend payout ratio 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.