International Business Machines Co. (NYSE:IBM) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,457,388 shares of the technology company’s stock after selling 16,033 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.27% of International Business Machines worth $540,208,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Hazlett Burt & Watson Inc. increased its holdings in shares of International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC acquired a new stake in shares of International Business Machines during the third quarter worth $29,000. Avondale Wealth Management grew its holdings in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after buying an additional 56 shares during the last quarter. Valued Wealth Advisors LLC increased its position in shares of International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after acquiring an additional 90 shares during the period. Finally, Modus Advisors LLC acquired a new stake in International Business Machines during the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $253.30 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The firm has a market cap of $234.21 billion, a PE ratio of 39.52, a PEG ratio of 5.63 and a beta of 0.76. International Business Machines Co. has a one year low of $162.62 and a one year high of $265.72. The firm has a fifty day moving average of $228.73 and a 200 day moving average of $216.19.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping the consensus estimate 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, research analysts predict that International Business Machines Co. will post 10.73 EPS for the current fiscal year.

International Business Machines Dividend Announcement

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 given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Analyst Ratings Changes

IBM has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Sanford C. Bernstein lifted their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. UBS Group increased 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 note on Tuesday, January 14th. Finally, Jefferies Financial Group upped their price target on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $225.53.

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.