Payden & Rygel Has $16.38 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Payden & Rygel lessened its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,500 shares of the technology company's stock after selling 5,300 shares during the period. Payden & Rygel's holdings in International Business Machines were worth $16,377,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Blue Zone Wealth Advisors LLC bought a new stake in shares of International Business Machines during the 4th quarter worth about $242,000. Brady Martz Wealth Solutions LLC acquired a new stake in shares of International Business Machines in the fourth quarter worth $1,940,000. Tranquilli Financial Advisor LLC acquired a new stake in shares of International Business Machines in the fourth quarter worth $373,000. Truist Financial Corp grew its stake in International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock valued at $178,296,000 after buying an additional 49,591 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in International Business Machines by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company's stock worth $16,615,000 after acquiring an additional 4,625 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

Shares of NYSE IBM traded up $2.15 during midday trading on Wednesday, reaching $223.18. 1,933,306 shares of the company traded hands, compared to its average volume of 4,173,482. The stock's 50-day simple moving average is $251.20 and its 200-day simple moving average is $232.67. 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 12 month low of $162.62 and a 12 month high of $266.45. The firm has a market cap of $206.94 billion, a PE ratio of 34.96, a PEG ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating 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%. As a group, equities 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.99%. International Business Machines's payout ratio is 104.21%.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly owns 45,007 shares of the company's stock, 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 legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

IBM has been the subject of a number of recent analyst reports. The Goldman Sachs Group restated a "buy" rating on shares of International Business Machines in a report on Wednesday, February 5th. Wedbush assumed coverage on International Business Machines in a report on Monday, February 3rd. They issued an "outperform" rating on the stock. Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Oppenheimer began 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 on the stock. Finally, UBS Group increased their price target on shares of International Business Machines from $150.00 to $160.00 and gave the company a "sell" rating in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, International Business Machines presently has an average rating of "Hold" and a consensus price target of $231.13.

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.