Martingale Asset Management L P Sells 47,296 Shares of International Business Machines Co. (NYSE:IBM)

Martingale Asset Management L P lessened its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 29.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,233 shares of the technology company's stock after selling 47,296 shares during the quarter. Martingale Asset Management L P's holdings in International Business Machines were worth $25,112,000 as of its most recent SEC filing.

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

International Business Machines Trading Up 2.6 %

Shares of NYSE:IBM traded up $5.94 during trading on Friday, hitting $235.49. The company had a trading volume of 4,324,754 shares, compared to its average volume of 4,218,193. The stock has a market cap of $218.37 billion, a price-to-earnings ratio of 36.74, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company has a fifty day simple moving average of $249.14 and a two-hundred day simple moving average of $233.02. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45.

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International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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 forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 2.84%. International Business Machines's dividend payout ratio (DPR) is presently 104.21%.

Analyst Ratings Changes

IBM has been the subject of a number of analyst reports. UBS Group upped their price target on International Business Machines from $150.00 to $160.00 and gave the stock a "sell" rating in a research report on Tuesday, January 14th. BMO Capital Markets upped their price target on shares of International Business Machines from $260.00 to $280.00 and gave the stock a "market perform" rating in a research report on Thursday, January 30th. Bank of America raised their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Morgan Stanley upped their target price on shares of International Business Machines from $217.00 to $228.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. Finally, Sanford C. Bernstein raised their price target on International Business Machines from $210.00 to $215.00 and gave the company a "market perform" rating in a report on Friday, January 3rd. Two 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. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $231.13.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of the business's stock in a transaction on 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 completion of the transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.18% of the company's stock.

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.