Thrivent Financial for Lutherans Cuts Position in International Business Machines Co. (NYSE:IBM)

Thrivent Financial for Lutherans lowered its position in International Business Machines Co. (NYSE:IBM) by 12.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,178,839 shares of the technology company’s stock after selling 162,182 shares during the quarter. International Business Machines makes up about 0.5% of Thrivent Financial for Lutherans’ holdings, making the stock its 21st biggest holding. Thrivent Financial for Lutherans owned about 0.13% of International Business Machines worth $259,089,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of International Business Machines by 2.2% during the 3rd 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 last quarter. Charles Schwab Investment Management Inc. raised its stake in International Business Machines by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company’s stock valued at $1,465,223,000 after buying an additional 126,547 shares in the last quarter. FMR LLC lifted its holdings 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 buying an additional 294,276 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of International Business Machines during the 4th quarter worth about $592,746,000. Finally, Holocene Advisors LP purchased a new position in shares of International Business Machines in the 3rd quarter valued at about $573,306,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Up 1.9 %

IBM stock opened at $253.00 on Tuesday. The stock has a market capitalization of $234.60 billion, a PE ratio of 39.47, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company has a fifty day moving average of $244.84 and a 200-day moving average of $228.85. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data 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, analysts expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.64%. The ex-dividend date was Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Morgan Stanley boosted their target price on 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. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Wedbush began coverage on shares of International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating on the stock. BMO Capital Markets upped their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $231.44.

Insider Buying and Selling at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by corporate insiders.

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.