Kayne Anderson Rudnick Investment Management LLC Cuts Stock Holdings in International Business Machines Co. (NYSE:IBM)

Kayne Anderson Rudnick Investment Management LLC trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 24.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,809 shares of the technology company's stock after selling 40,106 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in International Business Machines were worth $26,777,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. JBR Co Financial Management Inc raised its stake in shares of International Business Machines by 0.6% during the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company's stock worth $1,405,000 after acquiring an additional 40 shares in the last quarter. Schechter Investment Advisors LLC increased its position in shares of International Business Machines by 0.7% during the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock worth $1,396,000 after purchasing an additional 43 shares in the last quarter. Titleist Asset Management LLC lifted its holdings in shares of International Business Machines by 3.1% during the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock valued at $315,000 after purchasing an additional 43 shares during the last quarter. Callan Capital LLC boosted its position in shares of International Business Machines by 2.4% in the 4th quarter. Callan Capital LLC now owns 1,870 shares of the technology company's stock worth $411,000 after purchasing an additional 44 shares in the last quarter. Finally, Marks Group Wealth Management Inc grew its stake in International Business Machines by 0.4% during the 4th quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company's stock worth $2,292,000 after buying an additional 45 shares during the last quarter. Institutional investors own 58.96% of the company's stock.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of research analyst reports. Bank of America increased their price target on International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Sanford C. Bernstein lifted their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a "market perform" rating in a research note on Friday, January 3rd. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a research note on Wednesday. The Goldman Sachs Group reiterated a "buy" rating on shares of International Business Machines in a research note on Wednesday, February 5th. Finally, 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $242.41.

International Business Machines Stock Performance

Shares of NYSE:IBM traded up $1.11 during trading on Friday, hitting $230.44. 3,591,173 shares of the stock traded hands, compared to its average volume of 5,032,976. 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 has a fifty day moving average price of $245.94 and a two-hundred day moving average price of $233.89. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45. The company has a market cap of $213.68 billion, a price-to-earnings ratio of 35.95, a P/E/G ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. As a group, equities analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.90%. International Business Machines's dividend payout ratio is currently 104.21%.

Insider Buying and Selling at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction on 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 sale, the senior vice president now 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by corporate insiders.

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.