Coastwise Capital Group LLC Has $1.13 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Coastwise Capital Group LLC lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 7.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,120 shares of the technology company’s stock after selling 399 shares during the quarter. Coastwise Capital Group LLC’s holdings in International Business Machines were worth $1,126,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. State Street Corp raised its holdings in shares of International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. FMR LLC grew its position in International Business Machines by 6.0% in 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 in the last quarter. Swiss National Bank increased its stake in 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 valued at $602,819,000 after buying an additional 12,400 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after buying an additional 2,702,340 shares in the last quarter. Finally, Holocene Advisors LP bought a new position in shares of International Business Machines in the third quarter valued at approximately $573,306,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IBM has been the subject of several research analyst reports. JPMorgan Chase & Co. raised 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. UBS Group lifted their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Stifel Nicolaus increased their target price on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets lifted their price target on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday. Finally, Sanford C. Bernstein increased their price objective on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $225.53.

International Business Machines Price Performance

IBM stock opened at $258.22 on Friday. The firm has a 50 day moving average of $225.24 and a 200-day moving average of $213.55. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The firm has a market capitalization of $238.76 billion, a P/E ratio of 40.28, a price-to-earnings-growth ratio of 4.25 and a beta of 0.74. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $261.80.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 40.37% and a net margin of 9.60%. As a group, sell-side analysts predict that International Business Machines Co. will post 10.54 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.59%. International Business Machines’s payout ratio is 104.21%.

Insider Buying and Selling

In other International Business Machines 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 approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is owned by corporate 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.