Bank of New York Mellon Corp Has $1.71 Billion Stock Position in International Business Machines Co. (NYSE:IBM)

Bank of New York Mellon Corp lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 5.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,793,893 shares of the technology company’s stock after selling 486,308 shares during the period. Bank of New York Mellon Corp’s holdings in International Business Machines were worth $1,713,332,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Compass Financial Services Inc purchased a new position in shares of International Business Machines during the fourth quarter valued at $26,000. Hazlett Burt & Watson Inc. boosted its position in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC purchased a new position in International Business Machines during the 3rd quarter valued at about $29,000. Avondale Wealth Management increased its holdings in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares during the period. Finally, Valued Wealth Advisors LLC lifted its position in shares of 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 in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $262.12 on Tuesday. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $265.72. The firm has a fifty day simple moving average of $235.92 and a 200-day simple moving average of $222.79. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $242.37 billion, a price-to-earnings ratio of 40.89, a PEG ratio of 5.81 and a beta of 0.76.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, sell-side analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced 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 2.55%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Analyst Ratings Changes

A number of brokerages recently commented on IBM. JPMorgan Chase & Co. boosted their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Morgan Stanley upped 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 note on Thursday, January 30th. Oppenheimer began coverage on International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. UBS Group upped 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. Finally, Bank of America lifted their price target on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.