Meiji Yasuda Asset Management Co Ltd. Decreases Holdings in International Business Machines Co. (NYSE:IBM)

Meiji Yasuda Asset Management Co Ltd. reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 3.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 98,875 shares of the technology company’s stock after selling 3,760 shares during the period. International Business Machines comprises 0.8% of Meiji Yasuda Asset Management Co Ltd.’s investment portfolio, making the stock its 17th biggest position. Meiji Yasuda Asset Management Co Ltd.’s holdings in International Business Machines were worth $21,736,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in International Business Machines during the fourth quarter worth about $592,746,000. Holocene Advisors LP bought a new position in International Business Machines in the 3rd quarter worth approximately $573,306,000. Vanguard Group Inc. raised its holdings in International Business Machines by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after acquiring an additional 1,539,888 shares during the period. State Street Corp boosted 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 worth $12,307,940,000 after acquiring an additional 1,200,803 shares during the period. Finally, KBC Group NV raised its stake in shares of International Business Machines by 90.4% during the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock valued at $370,909,000 after purchasing an additional 800,930 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. JPMorgan Chase & Co. lifted their price objective on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. BMO Capital Markets raised their price target on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Jefferies Financial Group boosted their price objective on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, Oppenheimer began coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, International Business Machines has an average rating of “Hold” and a consensus target price of $231.44.

International Business Machines Stock Performance

NYSE:IBM opened at $248.49 on Tuesday. 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 Co. has a fifty-two week low of $162.62 and a fifty-two week high of $266.45. The business has a 50 day moving average price of $247.40 and a 200-day moving average price of $230.42. The firm has a market cap of $230.42 billion, a PE ratio of 38.77, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (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%. Equities research analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.69%. International Business Machines’s dividend payout ratio is currently 104.21%.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.18% 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.