International Business Machines Co. (NYSE:IBM) Shares Sold by Lafayette Investments Inc.

Lafayette Investments Inc. cut its holdings in International Business Machines Co. (NYSE:IBM) by 8.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,659 shares of the technology company’s stock after selling 331 shares during the period. Lafayette Investments Inc.’s holdings in International Business Machines were worth $598,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of IBM. Desjardins Global Asset Management Inc. increased its stake in shares of International Business Machines by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock valued at $644,000 after purchasing an additional 54 shares during the period. Avion Wealth increased its stake in shares of International Business Machines by 6.2% in the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after purchasing an additional 56 shares during the period. Financial Security Advisor Inc. increased its stake in shares of International Business Machines by 2.7% in the fourth quarter. Financial Security Advisor Inc. now owns 2,346 shares of the technology company’s stock valued at $384,000 after purchasing an additional 61 shares during the period. Cornerstone Wealth Group LLC increased its stake in shares of International Business Machines by 3.6% in the fourth quarter. Cornerstone Wealth Group LLC now owns 1,734 shares of the technology company’s stock valued at $284,000 after purchasing an additional 61 shares during the period. Finally, Webster Bank N. A. increased its stake in shares of International Business Machines by 0.9% in the fourth quarter. Webster Bank N. A. now owns 7,131 shares of the technology company’s stock valued at $1,166,000 after purchasing an additional 62 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

NYSE:IBM traded up $0.58 during trading hours on Friday, reaching $182.05. 664,852 shares of the company’s stock were exchanged, compared to its average volume of 4,748,505. The company has a market capitalization of $166.89 billion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 3.58 and a beta of 0.70. International Business Machines Co. has a 12 month low of $120.55 and a 12 month high of $199.18. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22. The business’s 50-day simple moving average is $188.56 and its two-hundred day simple moving average is $168.63.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.09. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The firm had revenue of $17.38 billion during the quarter, compared to analyst estimates of $17.29 billion. During the same quarter last year, the business posted $3.60 EPS. The company’s revenue was up 4.1% on a year-over-year basis. Sell-side analysts expect that International Business Machines Co. will post 10.07 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were paid a $1.66 dividend. This represents a $6.64 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio is 81.67%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Societe Generale restated a “sell” rating and issued a $143.00 price target on shares of International Business Machines in a research note on Friday, January 5th. Jefferies Financial Group started coverage on shares of International Business Machines in a research note on Friday, January 5th. They set a “hold” rating and a $180.00 price objective on the stock. BMO Capital Markets raised their price objective on shares of International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, January 25th. Evercore ISI upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $165.00 to $200.00 in a research note on Friday, January 19th. Finally, Bank of America raised their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $178.67.

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.