Corient Private Wealth LLC Has $87.52 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Corient Private Wealth LLC trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 10.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 407,682 shares of the technology company’s stock after selling 47,429 shares during the quarter. Corient Private Wealth LLC’s holdings in International Business Machines were worth $87,518,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. State Street Corp increased its holdings 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 worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the period. Charles Schwab Investment Management Inc. grew its position in International Business Machines by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company’s stock worth $1,465,223,000 after buying an additional 126,547 shares in the last quarter. FMR LLC increased its stake in 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 acquiring an additional 294,276 shares during the period. Swiss National Bank lifted its position in shares of International Business Machines by 0.5% during the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after acquiring an additional 12,400 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of International Business Machines during the 4th quarter worth $592,746,000. 58.96% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on IBM. UBS Group boosted their target price on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. BMO Capital Markets upped their price objective on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. lifted their target price on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report 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 company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $231.44.

International Business Machines Price Performance

Shares of IBM opened at $248.15 on Monday. The business has a 50-day moving average of $244.23 and a 200-day moving average of $228.47. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. The company has a market capitalization of $230.10 billion, a price-to-earnings ratio of 38.71, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 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%. As a group, equities research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

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.