Wright Investors Service Inc. Reduces Stock Position in International Business Machines Co. (NYSE:IBM)

Wright Investors Service Inc. reduced its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 49.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,332 shares of the technology company's stock after selling 9,009 shares during the period. Wright Investors Service Inc.'s holdings in International Business Machines were worth $2,051,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of IBM. Tealwood Asset Management Inc. grew its holdings in International Business Machines by 19.6% during the fourth quarter. Tealwood Asset Management Inc. now owns 2,474 shares of the technology company's stock valued at $544,000 after purchasing an additional 406 shares during the period. Grandview Asset Management LLC bought a new position in shares of International Business Machines during the 4th quarter worth $1,189,000. Marcum Wealth LLC increased its holdings in International Business Machines by 0.5% in the 4th quarter. Marcum Wealth LLC now owns 10,127 shares of the technology company's stock worth $2,226,000 after acquiring an additional 52 shares during the last quarter. Traveka Wealth LLC bought a new stake in International Business Machines in the 4th quarter valued at about $209,000. Finally, FNY Investment Advisers LLC purchased a new stake in International Business Machines during the fourth quarter valued at about $879,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company's stock, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is owned by corporate insiders.

International Business Machines Price Performance

IBM traded up $0.14 during trading on Tuesday, reaching $217.54. The stock had a trading volume of 3,485,479 shares, compared to its average volume of 3,249,006. The business has a 50-day moving average of $222.14 and a 200-day moving average of $209.84. International Business Machines Co. has a one year low of $162.62 and a one year high of $239.35. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The stock has a market cap of $201.15 billion, a PE ratio of 31.67, a PEG ratio of 5.18 and a beta of 0.74.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts' consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analysts' expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. International Business Machines's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the firm posted $2.20 EPS. As a group, equities research analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Tuesday, November 12th. International Business Machines's dividend payout ratio is currently 97.23%.

Analysts Set New Price Targets

IBM has been the topic of several research reports. UBS Group boosted their price target on shares of International Business Machines from $150.00 to $160.00 and gave the company a "sell" rating in a research report on Tuesday. Bernstein Bank boosted their target price on shares of International Business Machines from $185.00 to $210.00 and gave the company a "market perform" rating in a report on Thursday, October 3rd. Morgan Stanley raised their price target on International Business Machines from $208.00 to $222.00 and gave the stock an "equal weight" rating in a report on Monday, December 16th. Bank of America increased their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Finally, Sanford C. Bernstein upped their price target 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. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $215.81.

International Business Machines 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.