Zacks Investment Management Cuts Stock Holdings in International Business Machines Co. (NYSE:IBM)

Zacks Investment Management reduced its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 9.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 361,290 shares of the technology company's stock after selling 38,263 shares during the period. Zacks Investment Management's holdings in International Business Machines were worth $79,422,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Compass Financial Services Inc bought a new position in International Business Machines in the fourth quarter worth approximately $26,000. Vision Financial Markets LLC purchased a new position in International Business Machines in the 4th quarter worth approximately $31,000. Avondale Wealth Management boosted its stake in International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company's stock worth $34,000 after buying an additional 56 shares during the period. Valued Wealth Advisors LLC increased its position in shares of International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock worth $35,000 after acquiring an additional 90 shares during the period. Finally, Rialto Wealth Management LLC acquired a new position in International Business Machines in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Insider Transactions at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares of the company's stock, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Wedbush initiated coverage on International Business Machines in a report on Monday, February 3rd. They issued an "outperform" rating for the company. Oppenheimer initiated coverage on International Business Machines in a research report on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price target for the company. UBS Group lifted their price target on International Business Machines from $150.00 to $160.00 and gave the stock a "sell" rating in a research note on Tuesday, January 14th. Finally, Bank of America raised their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $232.75.

International Business Machines Price Performance

NYSE:IBM traded down $0.12 during mid-day trading on Friday, reaching $238.45. 4,626,569 shares of the stock were exchanged, compared to its average volume of 4,227,391. The business has a fifty day moving average price of $247.61 and a 200 day moving average price of $233.49. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $266.45. The firm has a market capitalization of $221.10 billion, a PE ratio of 37.20, a PEG ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data 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 return on equity of 38.99% and a net margin of 9.60%. Research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Monday, February 10th. International Business Machines's dividend payout ratio (DPR) 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.