International Business Machines Co. (NYSE:IBM) Shares Sold by Payden & Rygel

Payden & Rygel cut its stake in International Business Machines Co. (NYSE:IBM) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,500 shares of the technology company’s stock after selling 5,300 shares during the period. Payden & Rygel’s holdings in International Business Machines were worth $16,377,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. JBR Co Financial Management Inc increased its position in shares of International Business Machines by 0.6% in the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock valued at $1,405,000 after acquiring an additional 40 shares during the last quarter. Schechter Investment Advisors LLC increased its position in shares of International Business Machines by 0.7% during 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 during the last quarter. Callan Capital LLC raised its stake in shares of International Business Machines by 2.4% during 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 valued at $2,292,000 after buying an additional 45 shares during the last quarter. Finally, Tower Wealth Partners Inc. increased its holdings in International Business Machines by 1.9% during the fourth quarter. Tower Wealth Partners Inc. now owns 2,376 shares of the technology company’s stock worth $522,000 after buying an additional 45 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Down 6.6 %

Shares of NYSE:IBM opened at $227.31 on Friday. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45. The company has a fifty day moving average of $251.46 and a 200-day moving average of $232.41. 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 company has a market capitalization of $210.78 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS 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%. On average, equities analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders 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 2.94%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Insider Activity

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction 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 approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. BMO Capital Markets boosted their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Sanford C. Bernstein increased their price target on 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. Jefferies Financial Group reduced their price objective on shares of International Business Machines from $270.00 to $265.00 and set a “hold” rating for the company in a research report on Monday, March 31st. Finally, Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus target price of $231.13.

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.