Van ECK Associates Corp Cuts Position in International Business Machines Co. (NYSE:IBM)

Van ECK Associates Corp decreased its position in International Business Machines Co. (NYSE:IBM - Free Report) by 82.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,217 shares of the technology company's stock after selling 164,743 shares during the period. Van ECK Associates Corp's holdings in International Business Machines were worth $7,742,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Compass Financial Services Inc acquired a new stake in International Business Machines in the fourth quarter valued at $26,000. Hazlett Burt & Watson Inc. increased its holdings in shares of International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company's stock valued at $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC acquired a new stake in shares of International Business Machines in the third quarter valued at about $29,000. Avondale Wealth Management boosted its holdings in International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company's stock worth $34,000 after buying an additional 56 shares in the last quarter. Finally, Valued Wealth Advisors LLC grew its position in International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock worth $35,000 after buying an additional 90 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Down 1.1 %

NYSE IBM traded down $2.97 during trading hours on Friday, hitting $261.77. 5,665,344 shares of the company's stock were exchanged, compared to its average volume of 4,735,325. The business's 50 day moving average is $235.27 and its 200-day moving average is $221.81. 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 Co. has a 12-month low of $162.62 and a 12-month high of $265.72. The firm has a market capitalization of $242.05 billion, a P/E ratio of 40.84, a price-to-earnings-growth ratio of 5.80 and a beta of 0.76.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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, analysts anticipate that International Business Machines Co. will post 10.77 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. The ex-dividend date is Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.55%. International Business Machines's dividend payout ratio is presently 104.21%.

Wall Street Analysts Forecast Growth

IBM has been the topic of several research analyst reports. Oppenheimer began coverage on International Business Machines in a research note on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price target on the stock. UBS Group boosted their target price on International Business Machines from $150.00 to $160.00 and gave the stock a "sell" rating in a research report on Tuesday, January 14th. BMO Capital Markets raised their price target on International Business Machines from $260.00 to $280.00 and gave the company a "market perform" rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Finally, Bank of America raised their target price on shares of International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, International Business Machines currently has an average rating of "Hold" and an average target price of $231.44.

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.