Gilman Hill Asset Management LLC Reduces Stock Holdings in International Business Machines Co. (NYSE:IBM)

Gilman Hill Asset Management LLC trimmed its position in International Business Machines Co. (NYSE:IBM) by 35.2% in the fourth quarter, HoldingsChannel reports. The firm owned 46,145 shares of the technology company’s stock after selling 25,116 shares during the quarter. International Business Machines accounts for about 1.8% of Gilman Hill Asset Management LLC’s holdings, making the stock its 8th largest holding. Gilman Hill Asset Management LLC’s holdings in International Business Machines were worth $10,144,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after buying an additional 1,200,803 shares during the last quarter. Legal & General Group Plc boosted its stake in International Business Machines by 4.1% in the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after acquiring an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after acquiring an additional 444,698 shares during the period. FMR LLC increased its stake 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 last quarter. Finally, Swiss National Bank raised its holdings in shares of International Business Machines by 0.5% in the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock worth $602,819,000 after purchasing an additional 12,400 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on IBM. UBS Group raised their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. BMO Capital Markets lifted their price objective on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Morgan Stanley lifted their target price on shares of International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. Finally, Jefferies Financial Group upped their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $216.87.

International Business Machines Price Performance

NYSE:IBM opened at $224.73 on Monday. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $239.35. The stock has a fifty day moving average of $222.87 and a 200 day moving average of $210.89. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm has a market capitalization of $207.80 billion, a price-to-earnings ratio of 32.71, a P/E/G ratio of 4.71 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $2.20 EPS. On average, research analysts expect that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.07% of the company’s stock.

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.