OVERSEA CHINESE BANKING Corp Ltd Trims Stake in International Business Machines Co. (NYSE:IBM)

OVERSEA CHINESE BANKING Corp Ltd cut its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 91.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,222 shares of the technology company's stock after selling 13,924 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in International Business Machines were worth $269,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $592,746,000. Holocene Advisors LP bought a new stake in International Business Machines in the 3rd quarter valued at $573,306,000. State Street Corp lifted its holdings in International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company's stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. KBC Group NV boosted its position in International Business Machines by 90.4% during the fourth quarter. KBC Group NV now owns 1,687,253 shares of the technology company's stock worth $370,909,000 after purchasing an additional 800,930 shares during the period. Finally, Strategic Financial Concepts LLC increased its holdings in shares of International Business Machines by 23,311.1% in the fourth quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company's stock valued at $153,262,000 after purchasing an additional 694,204 shares during the last quarter. Institutional investors own 58.96% of the company's stock.

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Analysts Set New Price Targets

Several analysts recently commented on the stock. The Goldman Sachs Group reaffirmed a "buy" rating on shares of International Business Machines in a report on Wednesday, February 5th. Bank of America upped their price objective on International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. BMO Capital Markets raised 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. Finally, StockNews.com downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Saturday, March 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $231.44.

International Business Machines Trading Up 1.9 %

NYSE IBM traded up $4.62 during trading hours on Monday, reaching $248.49. The company's stock had a trading volume of 4,752,377 shares, compared to its average volume of 3,904,107. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. 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 stock has a market cap of $230.42 billion, a P/E ratio of 38.77, a P/E/G ratio of 5.81 and a beta of 0.74. The firm has a fifty day simple moving average of $246.77 and a 200-day simple moving average of $230.09.

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

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.69%. International Business Machines's dividend payout ratio is presently 104.21%.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares of the company's stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.18% of the company's stock.

International Business Machines Company 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.