International Business Machines Co. (NYSE:IBM) Shares Sold by CapWealth Advisors LLC

CapWealth Advisors LLC cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,746 shares of the technology company’s stock after selling 7,580 shares during the quarter. International Business Machines makes up 3.4% of CapWealth Advisors LLC’s investment portfolio, making the stock its 6th largest holding. CapWealth Advisors LLC’s holdings in International Business Machines were worth $31,160,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its position 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 period. FMR LLC increased its position 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 valued at $1,148,717,000 after purchasing an additional 294,276 shares during the last quarter. Swiss National Bank lifted its position in shares of International Business Machines by 0.5% during 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 in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of International Business Machines by 20,324.5% in the third 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 stake in International Business Machines in the 3rd quarter worth approximately $573,306,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $260.65 on Friday. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $265.72. The business has a 50 day simple moving average of $231.63 and a 200-day simple moving average of $218.77. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $241.01 billion, a price-to-earnings ratio of 40.66, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76.

International Business Machines (NYSE:IBM) last released its quarterly earnings results 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%. As a group, equities research analysts expect that International Business Machines Co. will post 10.75 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.56%. International Business Machines’s payout ratio is 104.21%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IBM. Wedbush began coverage on International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. Bank of America increased their target price on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Monday, January 27th. Oppenheimer started coverage on shares of International Business Machines in a research report on Tuesday. They issued an “outperform” rating and a $320.00 price objective for the company. Finally, Morgan Stanley lifted their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average price target of $231.44.

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.