Freestone Capital Holdings LLC Cuts Stock Position in International Business Machines Co. (NYSE:IBM)

Freestone Capital Holdings LLC reduced its position in International Business Machines Co. (NYSE:IBM) by 6.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,831 shares of the technology company’s stock after selling 999 shares during the quarter. Freestone Capital Holdings LLC’s holdings in International Business Machines were worth $3,041,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. JBR Co Financial Management Inc boosted its holdings in shares of International Business Machines by 0.6% in the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock worth $1,405,000 after purchasing an additional 40 shares in the last quarter. Schechter Investment Advisors LLC boosted its holdings in shares of International Business Machines by 0.7% in the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock worth $1,396,000 after purchasing an additional 43 shares in the last quarter. Callan Capital LLC boosted its holdings in shares of International Business Machines by 2.4% in the 4th quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock worth $411,000 after purchasing an additional 44 shares in the last quarter. Marks Group Wealth Management Inc boosted its holdings in shares of International Business Machines by 0.4% in the 4th quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock worth $2,292,000 after purchasing an additional 45 shares in the last quarter. Finally, First Affirmative Financial Network boosted its holdings in shares of International Business Machines by 1.5% in the 4th quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company’s stock worth $687,000 after purchasing an additional 46 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Down 0.7 %

Shares of NYSE:IBM opened at $251.40 on Thursday. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $265.72. The firm has a market capitalization of $233.11 billion, a P/E ratio of 39.22, a P/E/G ratio of 5.81 and a beta of 0.74. The stock has a 50 day moving average price of $240.04 and a 200-day moving average price of $225.58. 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 (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, equities research analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Insiders Place Their Bets

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Jefferies Financial Group increased their target price on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. UBS Group increased their target price on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. Oppenheimer assumed coverage on International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price for the company. Wedbush assumed coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. Finally, StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, International Business Machines has an average rating of “Hold” and a consensus 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.