Linscomb Wealth Inc. Reduces Stock Holdings in International Business Machines Co. (NYSE:IBM)

Linscomb Wealth Inc. lowered its stake in International Business Machines Co. (NYSE:IBM) by 18.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,218 shares of the technology company’s stock after selling 2,088 shares during the period. Linscomb Wealth Inc.’s holdings in International Business Machines were worth $2,026,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp lifted 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 buying an additional 1,200,803 shares during the period. FMR LLC grew its holdings in shares of International Business Machines by 6.0% during the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after purchasing an additional 294,276 shares during the period. Swiss National Bank increased its position in shares of International Business Machines by 0.5% in the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock worth $602,819,000 after acquiring an additional 12,400 shares in the last quarter. Holocene Advisors LP acquired a new stake in International Business Machines in the 3rd quarter valued at $573,306,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of International Business Machines by 1.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,473,421 shares of the technology company’s stock valued at $546,824,000 after buying an additional 32,732 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of IBM opened at $252.63 on Friday. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $265.72. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The stock has a fifty day moving average price of $238.37 and a 200 day moving average price of $224.13. The company has a market cap of $234.25 billion, a P/E ratio of 39.41, 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 EPS 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%. On average, research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently declared 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 2.64%. International Business Machines’s payout ratio is 104.21%.

Wall Street Analyst Weigh In

IBM has been the topic of a number of recent research reports. Oppenheimer assumed coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price on the stock. Wedbush initiated coverage on shares of International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. lifted their target price on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Morgan Stanley raised their price objective on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.