International Business Machines Co. (NYSE:IBM) Shares Sold by Korea Investment CORP

Korea Investment CORP lowered its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 13.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 587,299 shares of the technology company's stock after selling 92,339 shares during the quarter. Korea Investment CORP owned 0.06% of International Business Machines worth $129,106,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Tyler Stone Wealth Management boosted its holdings in International Business Machines by 24.1% during the 4th quarter. Tyler Stone Wealth Management now owns 3,012 shares of the technology company's stock valued at $662,000 after acquiring an additional 584 shares during the period. Graney & King LLC purchased a new stake in shares of International Business Machines during the fourth quarter valued at $53,000. Ausdal Financial Partners Inc. grew its holdings in shares of International Business Machines by 17.1% in the fourth quarter. Ausdal Financial Partners Inc. now owns 12,519 shares of the technology company's stock worth $2,752,000 after purchasing an additional 1,829 shares during the last quarter. Financial Engines Advisors L.L.C. lifted its holdings in International Business Machines by 39.2% during the 4th quarter. Financial Engines Advisors L.L.C. now owns 10,401 shares of the technology company's stock valued at $2,286,000 after buying an additional 2,928 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. boosted its position in International Business Machines by 6.3% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 8,628 shares of the technology company's stock valued at $1,897,000 after buying an additional 515 shares during the period. Hedge funds and other institutional investors own 58.96% of the company's stock.

Remove Ads

Analyst Ratings Changes

IBM has been the subject of several research analyst reports. Jefferies Financial Group lifted their price target on shares of International Business Machines from $245.00 to $270.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Sanford C. Bernstein lifted their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the company a "market perform" rating in a report on Friday, January 3rd. Oppenheimer began coverage on International Business Machines in a report on Tuesday, February 11th. They set an "outperform" rating and a $320.00 target price for the company. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, International Business Machines currently has a consensus rating of "Hold" and a consensus price target of $231.44.

International Business Machines Stock Performance

Shares of International Business Machines stock traded down $2.38 on Friday, reaching $243.83. 3,125,152 shares of the stock were exchanged, compared to its average volume of 4,089,823. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $266.45. The business has a 50 day moving average price of $249.51 and a two-hundred day moving average price of $231.47. 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 firm has a market capitalization of $226.10 billion, a price-to-earnings ratio of 38.04, a PEG ratio of 5.81 and a beta of 0.74.

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 for the quarter, topping analysts' consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Analysts anticipate that International Business Machines Co. will post 10.78 earnings per share 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. Stockholders of record on Monday, February 10th were paid a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.74%. International Business Machines's payout ratio is 104.21%.

Insider Buying and Selling

In other news, SVP Robert David Thomas sold 26,543 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president now owns 45,007 shares of the company's stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by corporate insiders.

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.