abrdn plc Has $306.74 Million Stake in International Business Machines Co. (NYSE:IBM)

abrdn plc reduced its stake in International Business Machines Co. (NYSE:IBM) by 5.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,399,293 shares of the technology company’s stock after selling 77,433 shares during the quarter. International Business Machines makes up 0.6% of abrdn plc’s investment portfolio, making the stock its 27th largest holding. abrdn plc owned 0.15% of International Business Machines worth $306,739,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in IBM. Hazlett Burt & Watson Inc. boosted its stake in 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 worth $29,000 after purchasing an additional 116 shares during the period. Hara Capital LLC purchased a new position in shares of International Business Machines during the third quarter valued at approximately $29,000. Avondale Wealth Management increased its stake in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after buying an additional 56 shares during the period. Valued Wealth Advisors LLC grew its stake in International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after purchasing an additional 90 shares during the period. Finally, Modus Advisors LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth $40,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Up 2.0 %

NYSE:IBM opened at $260.84 on Tuesday. 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 1-year low of $162.62 and a 1-year high of $262.06. The business’s fifty day moving average price is $226.61 and its 200 day moving average price is $214.76. The firm has a market capitalization of $241.18 billion, a price-to-earnings ratio of 40.69, a PEG ratio of 5.63 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced 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 38.99% and a net margin of 9.60%. On average, sell-side analysts forecast that International Business Machines Co. will post 10.73 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a $1.67 dividend. The ex-dividend date is Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.56%. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of research analyst reports. Morgan Stanley upped their price target on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. 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 report on Thursday, January 30th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Stifel Nicolaus lifted their price target on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their target price on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus target price of $225.53.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines 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 transaction, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.07% of the company’s stock.

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.