Kornitzer Capital Management Inc. KS Lowers Stake in International Business Machines Co. (NYSE:IBM)

Kornitzer Capital Management Inc. KS reduced its stake in International Business Machines Co. (NYSE:IBM - Free Report) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 263,917 shares of the technology company's stock after selling 974 shares during the period. International Business Machines accounts for 1.1% of Kornitzer Capital Management Inc. KS's holdings, making the stock its 15th biggest holding. Kornitzer Capital Management Inc. KS's holdings in International Business Machines were worth $58,017,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Resonant Capital Advisors LLC grew its holdings in shares of International Business Machines by 5.5% during the third quarter. Resonant Capital Advisors LLC now owns 3,205 shares of the technology company's stock valued at $709,000 after buying an additional 167 shares during the last quarter. OLD National Bancorp IN boosted its stake in International Business Machines by 3.0% during the 3rd quarter. OLD National Bancorp IN now owns 12,852 shares of the technology company's stock valued at $2,841,000 after purchasing an additional 380 shares during the last quarter. Narus Financial Partners LLC increased its holdings in International Business Machines by 3.9% during the 3rd quarter. Narus Financial Partners LLC now owns 2,063 shares of the technology company's stock worth $456,000 after purchasing an additional 77 shares in the last quarter. Koss Olinger Consulting LLC raised its stake in shares of International Business Machines by 2.8% in the third quarter. Koss Olinger Consulting LLC now owns 2,318 shares of the technology company's stock worth $512,000 after purchasing an additional 63 shares during the last quarter. Finally, Trilogy Capital Inc. bought a new position in shares of International Business Machines in the third quarter valued at approximately $203,000. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Stock Performance

IBM traded down $2.97 during trading hours on Friday, hitting $261.77. The stock had a trading volume of 5,665,344 shares, compared to its average volume of 4,735,325. The stock has a market cap of $242.05 billion, a PE ratio of 40.84, a price-to-earnings-growth ratio of 5.80 and a beta of 0.76. 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's fifty day simple moving average is $235.27 and its 200 day simple moving average is $221.81. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72.

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 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%. Equities analysts anticipate that International Business Machines Co. will post 10.77 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.55%. International Business Machines's payout ratio is currently 104.21%.

Analyst Ratings Changes

IBM has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on International Business Machines from $233.00 to $244.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. StockNews.com upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a report on Wednesday, February 5th. Wedbush assumed coverage on shares of International Business Machines in a report on Monday, February 3rd. They set an "outperform" rating on the stock. Oppenheimer started coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price objective for the company. Finally, Morgan Stanley boosted their target price on International Business Machines from $217.00 to $228.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $231.44.

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.