Prudential Financial Inc. Decreases Stake in International Business Machines Co. (NYSE:IBM)

Prudential Financial Inc. trimmed its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 44.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 667,753 shares of the technology company's stock after selling 529,275 shares during the period. Prudential Financial Inc. owned about 0.07% of International Business Machines worth $146,792,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of IBM. Compass Financial Services Inc acquired a new position in shares of International Business Machines in the fourth quarter worth about $26,000. Vision Financial Markets LLC purchased a new stake in International Business Machines during the 4th quarter worth approximately $31,000. Avondale Wealth Management raised its holdings in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company's stock valued at $34,000 after acquiring an additional 56 shares during the last quarter. Valued Wealth Advisors LLC lifted its position in shares of International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock valued at $35,000 after acquiring an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter worth approximately $35,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

IBM has been the topic of a number of research reports. UBS Group raised their price objective on International Business Machines from $150.00 to $160.00 and gave the company a "sell" rating in a report on Tuesday, January 14th. Oppenheimer initiated coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price objective for the company. JPMorgan Chase & Co. raised their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. StockNews.com cut International Business Machines from a "buy" rating to a "hold" rating in a report on Saturday, March 15th. Finally, Sanford C. Bernstein increased 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 research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, International Business Machines has an average rating of "Hold" and a consensus price target of $231.44.

International Business Machines Trading Up 0.6 %

Shares of NYSE:IBM traded up $1.56 during midday trading on Tuesday, reaching $250.01. 3,132,795 shares of the company's stock were exchanged, compared to its average volume of 3,901,451. The firm's 50 day simple moving average is $247.40 and its two-hundred day simple moving average is $230.42. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two 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 $231.83 billion, a price-to-earnings ratio of 39.00, a P/E/G ratio of 5.81 and a beta of 0.74.

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

International Business Machines Dividend Announcement

The firm also recently declared 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 of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.67%. International Business Machines's dividend payout ratio is presently 104.21%.

Insider Activity

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred 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 directly owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.