International Business Machines Co. (NYSE:IBM) Shares Sold by Janney Capital Management LLC

Janney Capital Management LLC trimmed its position in shares of International Business Machines Co. (NYSE:IBM) by 15.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,329 shares of the technology company’s stock after selling 16,065 shares during the quarter. International Business Machines accounts for approximately 1.2% of Janney Capital Management LLC’s portfolio, making the stock its 16th largest holding. Janney Capital Management LLC’s holdings in International Business Machines were worth $18,758,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. Meeder Asset Management Inc. grew its stake in shares of International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after purchasing an additional 166 shares during the period. Brady Martz Wealth Solutions LLC acquired a new position in International Business Machines during the fourth quarter worth about $1,940,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of International Business Machines in the 2nd quarter worth approximately $7,160,000. Philip James Wealth Mangement LLC acquired a new stake in shares of International Business Machines in the 3rd quarter worth approximately $5,117,000. Finally, Nordea Investment Management AB grew its holdings in shares of International Business Machines by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after acquiring an additional 4,625 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.07% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IBM. Bank of America upped their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Bernstein Bank increased their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. BMO Capital Markets raised their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. The Goldman Sachs Group raised their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $216.87.

International Business Machines Stock Performance

International Business Machines stock opened at $220.62 on Wednesday. The stock has a market cap of $204.00 billion, a P/E ratio of 32.20, a price-to-earnings-growth ratio of 4.81 and a beta of 0.74. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The stock has a 50 day moving average of $223.36 and a 200-day moving average of $211.82. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $239.35.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter last year, the business posted $2.20 EPS. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, analysts expect that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were issued a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.03%. International Business Machines’s dividend payout ratio is currently 97.23%.

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.