Meiji Yasuda Asset Management Co Ltd. Reduces Stock Position in International Business Machines Co. (NYSE:IBM)

Meiji Yasuda Asset Management Co Ltd. trimmed its position in International Business Machines Co. (NYSE:IBM - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,875 shares of the technology company's stock after selling 3,760 shares during the period. International Business Machines makes up about 0.8% of Meiji Yasuda Asset Management Co Ltd.'s holdings, making the stock its 17th biggest position. Meiji Yasuda Asset Management Co Ltd.'s holdings in International Business Machines were worth $21,736,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. PKS Advisory Services LLC purchased a new position in International Business Machines in the fourth quarter worth $912,000. Syverson Strege & Co increased its holdings in shares of International Business Machines by 14.6% in the 4th quarter. Syverson Strege & Co now owns 2,220 shares of the technology company's stock valued at $488,000 after purchasing an additional 283 shares in the last quarter. TIAA Trust National Association lifted its stake in shares of International Business Machines by 1.2% in the fourth quarter. TIAA Trust National Association now owns 108,400 shares of the technology company's stock valued at $23,830,000 after purchasing an additional 1,244 shares during the period. FineMark National Bank & Trust boosted its holdings in International Business Machines by 1.6% during the fourth quarter. FineMark National Bank & Trust now owns 9,269 shares of the technology company's stock worth $2,038,000 after buying an additional 143 shares in the last quarter. Finally, Ashton Thomas Securities LLC grew its position in International Business Machines by 89.6% during the fourth quarter. Ashton Thomas Securities LLC now owns 2,543 shares of the technology company's stock worth $560,000 after buying an additional 1,202 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

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International Business Machines Stock Down 0.0 %

Shares of NYSE:IBM traded down $0.07 during midday trading on Wednesday, hitting $249.83. 2,428,016 shares of the company's stock traded hands, compared to its average volume of 3,893,146. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $266.45. The company has a market cap of $231.66 billion, a PE ratio of 39.10, a P/E/G ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The firm's fifty day moving average price is $248.04 and its two-hundred day moving average price is $230.76.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, equities research analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced 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. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.67%. International Business Machines's payout ratio is currently 104.21%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on IBM. Morgan Stanley lifted their price target on shares of International Business Machines from $217.00 to $228.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. 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 research report on Friday, January 3rd. Jefferies Financial Group boosted their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. Finally, Oppenheimer initiated 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $231.44.

Insider Activity

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 transaction of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares of the company's stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.