Gries Financial LLC Lowers Holdings in International Business Machines Co. (NYSE:IBM)

Gries Financial LLC lowered its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,790 shares of the technology company’s stock after selling 55 shares during the quarter. Gries Financial LLC’s holdings in International Business Machines were worth $833,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. International Assets Investment Management LLC grew its position in shares of International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after buying an additional 2,702,340 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of International Business Machines during the 3rd quarter worth $573,306,000. State Street Corp lifted its stake in shares of International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. KBC Group NV lifted its stake in shares of International Business Machines by 90.4% during the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after purchasing an additional 800,930 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its stake in shares of International Business Machines by 587.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock worth $134,262,000 after purchasing an additional 536,785 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines 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 owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of analyst reports. BMO Capital Markets upped their price objective on 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. UBS Group upped their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Monday. Bank of America increased their price target on International Business Machines from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group increased their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $220.40.

International Business Machines Stock Performance

NYSE IBM opened at $229.13 on Thursday. The company has a market cap of $211.87 billion, a PE ratio of 33.35, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74. The stock’s 50 day simple moving average is $224.95 and its 200-day simple moving average is $213.44. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $239.35. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. As a group, equities research analysts anticipate that International Business Machines Co. will post 10.16 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. Investors of record on Monday, February 10th will be given a dividend of $1.67 per share. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.92%. International Business Machines’s payout ratio is 97.23%.

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.