International Business Machines Co. (NYSE:IBM) Shares Sold by Rice Partnership LLC

Rice Partnership LLC reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 3.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,651 shares of the technology company’s stock after selling 65 shares during the quarter. Rice Partnership LLC’s holdings in International Business Machines were worth $363,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after buying an additional 2,702,340 shares during the period. Holocene Advisors LP purchased a new stake in shares of International Business Machines during the third quarter valued at approximately $573,306,000. State Street Corp raised its stake in shares of International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares during the period. KBC Group NV raised its stake in shares of International Business Machines by 90.4% during the fourth quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock valued at $370,909,000 after purchasing an additional 800,930 shares during the period. Finally, Eagle Asset Management Inc. raised its stake in shares of International Business Machines by 587.1% during the third quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock valued at $134,262,000 after purchasing an additional 536,785 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on IBM shares. 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 Monday, January 27th. Morgan Stanley raised their price target on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday. Bank of America raised their price target on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, BMO Capital Markets raised their price target on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $225.53.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.07% of the stock is owned by corporate insiders.

International Business Machines Stock Performance

IBM stock opened at $255.48 on Monday. The company has a market capitalization of $236.23 billion, a P/E ratio of 39.86, a PEG ratio of 5.63 and a beta of 0.74. The company has a 50-day simple moving average of $226.61 and a 200 day simple moving average of $214.76. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $261.80. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last posted 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%. Sell-side analysts predict that International Business Machines Co. will post 10.73 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

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.