Price T Rowe Associates Inc. MD Cuts Stake in International Business Machines Co. (NYSE:IBM)

Price T Rowe Associates Inc. MD cut its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 33.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,234,539 shares of the technology company's stock after selling 1,133,702 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.24% of International Business Machines worth $491,220,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital World Investors boosted its stake in shares of International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Norges Bank bought a new stake in International Business Machines during the 4th quarter valued at $1,236,176,000. Raymond James Financial Inc. purchased a new position in shares of International Business Machines in the 4th quarter valued at $592,746,000. Vanguard Group Inc. raised its position in shares of International Business Machines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock worth $20,189,023,000 after acquiring an additional 1,539,888 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of International Business Machines by 26.4% during the 4th quarter. First Trust Advisors LP now owns 4,023,989 shares of the technology company's stock worth $884,593,000 after purchasing an additional 840,064 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Down 6.6 %

IBM stock opened at $229.29 on Friday. The company has a market capitalization of $212.61 billion, a P/E ratio of 35.77, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $266.45. The firm's fifty day simple moving average is $245.94 and its 200-day simple moving average is $233.89. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

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

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.91%. The ex-dividend date was Monday, February 10th. International Business Machines's dividend payout ratio is currently 104.21%.

Insider Buying and Selling at International Business Machines

In other International Business Machines 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 completion of the transaction, the senior vice president now owns 45,007 shares of the company's stock, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on IBM shares. Bank of America lifted their target price 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. The Goldman Sachs Group reiterated a "buy" rating on shares of International Business Machines in a research note on Wednesday, February 5th. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a research note on Wednesday. Sanford C. Bernstein upped their price target on International Business Machines from $210.00 to $215.00 and gave the stock a "market perform" rating in a research report on Friday, January 3rd. Finally, KGI Securities set a $242.00 target price on International Business Machines and gave the stock a "hold" rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $242.41.

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.

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