Edgestream Partners L.P. Sells 161 Shares of International Business Machines Co. (NYSE:IBM)

Edgestream Partners L.P. cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,143 shares of the technology company’s stock after selling 161 shares during the quarter. Edgestream Partners L.P.’s holdings in International Business Machines were worth $1,350,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. JBR Co Financial Management Inc raised its holdings in International Business Machines by 0.6% during the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock valued at $1,405,000 after acquiring an additional 40 shares during the period. Schechter Investment Advisors LLC increased its holdings in shares of International Business Machines by 0.7% in the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock worth $1,396,000 after purchasing an additional 43 shares during the last quarter. Callan Capital LLC increased its holdings in shares of International Business Machines by 2.4% in the fourth quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock worth $411,000 after purchasing an additional 44 shares during the last quarter. Marks Group Wealth Management Inc increased its holdings in shares of International Business Machines by 0.4% in the fourth quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock worth $2,292,000 after purchasing an additional 45 shares during the last quarter. Finally, First Affirmative Financial Network increased its holdings in shares of International Business Machines by 1.5% in the fourth quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company’s stock worth $687,000 after purchasing an additional 46 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Bank of America lifted their target price on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Jefferies Financial Group lifted their price target on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Oppenheimer initiated coverage on International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target for the company. Finally, BMO Capital Markets lifted their price target 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Down 1.8 %

Shares of NYSE IBM opened at $256.93 on Tuesday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The firm has a market capitalization of $238.24 billion, a price-to-earnings ratio of 40.08, a PEG ratio of 5.81 and a beta of 0.74. The stock has a 50 day moving average price of $242.03 and a 200 day moving average price of $227.05. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping 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%. 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 disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

Insider Buying and Selling

In other news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.07% of the stock is currently owned by insiders.

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.