International Business Machines Co. (NYSE:IBM) Shares Sold by Prudential PLC

Prudential PLC decreased its position in International Business Machines Co. (NYSE:IBM - Free Report) by 11.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 129,936 shares of the technology company's stock after selling 16,416 shares during the quarter. Prudential PLC's holdings in International Business Machines were worth $28,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Wescott Financial Advisory Group LLC grew its stake in shares of International Business Machines by 4.5% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 2,363 shares of the technology company's stock valued at $519,000 after buying an additional 101 shares during the last quarter. Conquis Financial LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth $94,000. Yoffe Investment Management LLC purchased a new position in International Business Machines during the 4th quarter worth approximately $2,879,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of International Business Machines by 6.7% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,721 shares of the technology company's stock worth $378,000 after purchasing an additional 108 shares during the last quarter. Finally, Uniting Wealth Partners LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth about $1,039,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company's stock.

International Business Machines Stock Down 2.7 %

Shares of NYSE:IBM traded down $6.14 during trading hours on Monday, reaching $221.34. The stock had a trading volume of 4,022,857 shares, compared to its average volume of 4,807,687. The stock has a market capitalization of $205.24 billion, a price-to-earnings ratio of 34.53, a P/E/G ratio of 5.81 and a beta of 0.67. The firm's 50 day moving average is $251.46 and its 200-day moving average is $232.66. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

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

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Monday, February 10th. International Business Machines's dividend payout ratio is currently 104.21%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IBM. JPMorgan Chase & Co. boosted their price target on International Business Machines from $233.00 to $244.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. StockNews.com downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Saturday, March 15th. Sanford C. Bernstein boosted 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. Wedbush began coverage on shares of International Business Machines in a research note on Monday, February 3rd. They set an "outperform" rating for the company. Finally, Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, International Business Machines presently has an average rating of "Hold" and a consensus target price of $231.13.

International Business Machines 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.