Prudential PLC Sells 16,416 Shares of International Business Machines Co. (NYSE:IBM)

Prudential PLC lowered its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 11.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,936 shares of the technology company's stock after selling 16,416 shares during the period. Prudential PLC's holdings in International Business Machines were worth $28,564,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of IBM. United Bank lifted its position in International Business Machines by 53.3% in the 3rd quarter. United Bank now owns 5,628 shares of the technology company's stock worth $1,244,000 after buying an additional 1,956 shares in the last quarter. Retirement Investment Advisors Inc. raised its holdings in shares of International Business Machines by 25.0% during the third quarter. Retirement Investment Advisors Inc. now owns 2,640 shares of the technology company's stock worth $584,000 after acquiring an additional 528 shares in the last quarter. Royal London Asset Management Ltd. boosted its position in International Business Machines by 3.5% during the third quarter. Royal London Asset Management Ltd. now owns 399,996 shares of the technology company's stock valued at $88,431,000 after purchasing an additional 13,569 shares during the last quarter. Quarry LP grew its stake in International Business Machines by 314.1% in the third quarter. Quarry LP now owns 530 shares of the technology company's stock valued at $117,000 after purchasing an additional 402 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in International Business Machines by 59.8% in the 3rd quarter. Quantinno Capital Management LP now owns 33,468 shares of the technology company's stock worth $7,399,000 after purchasing an additional 12,527 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

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Analysts Set New Price Targets

IBM has been the subject of a number of research analyst reports. StockNews.com lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Saturday, March 15th. Morgan Stanley increased their target price on International Business Machines from $217.00 to $228.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Bank of America increased their price objective on International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Finally, UBS Group boosted their target price on shares of International Business Machines from $150.00 to $160.00 and gave the stock a "sell" rating in a research report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $231.13.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by insiders.

International Business Machines Price Performance

NYSE:IBM traded down $16.18 during mid-day trading on Friday, hitting $227.31. The company's stock had a trading volume of 7,402,799 shares, compared to its average volume of 4,141,809. The company has a market capitalization of $210.78 billion, a price-to-earnings ratio of 35.46, a P/E/G ratio of 5.81 and a beta of 0.67. 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 Co. has a fifty-two week low of $162.62 and a fifty-two week high of $266.45. The stock has a fifty day moving average of $251.46 and a 200-day moving average of $232.41.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results 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%. As a group, equities analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines's dividend payout ratio (DPR) is currently 104.21%.

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.