International Business Machines Co. (NYSE:IBM) Shares Sold by Minneapolis Portfolio Management Group LLC

Minneapolis Portfolio Management Group LLC reduced its position in International Business Machines Co. (NYSE:IBM - Free Report) by 31.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 125,269 shares of the technology company's stock after selling 56,477 shares during the period. International Business Machines accounts for about 3.6% of Minneapolis Portfolio Management Group LLC's holdings, making the stock its 13th biggest holding. Minneapolis Portfolio Management Group LLC's holdings in International Business Machines were worth $27,538,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in International Business Machines by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock valued at $20,189,023,000 after acquiring an additional 1,539,888 shares during the last quarter. State Street Corp raised its stake in shares of International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company's stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in International Business Machines by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company's stock valued at $1,465,223,000 after buying an additional 126,547 shares during the last quarter. FMR LLC increased its stake in International Business Machines by 6.0% in the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company's stock valued at $1,148,717,000 after buying an additional 294,276 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of International Business Machines in the 4th quarter worth $592,746,000. Institutional investors and hedge funds own 58.96% of the company's stock.

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Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred 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 directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by insiders.

International Business Machines Stock Up 0.6 %

NYSE:IBM traded up $1.56 during trading hours on Tuesday, hitting $250.01. The stock had a trading volume of 3,132,795 shares, compared to its average volume of 3,901,451. The company has a market cap of $231.83 billion, a PE ratio of 39.00, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The business has a 50 day simple moving average of $247.40 and a two-hundred day simple moving average of $230.42. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $266.45. 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 (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines's dividend payout ratio is currently 104.21%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on IBM. The Goldman Sachs Group reissued a "buy" rating on shares of International Business Machines in a report on Wednesday, February 5th. Oppenheimer assumed coverage on shares of International Business Machines in a report on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price objective on the stock. BMO Capital Markets lifted their price target on shares of International Business Machines from $260.00 to $280.00 and gave the company a "market perform" rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price target on International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Finally, Jefferies Financial Group lifted their price objective on International Business Machines from $245.00 to $270.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $231.44.

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.