Russell Investments Group Ltd. Decreases Holdings in International Business Machines Co. (NYSE:IBM)

Russell Investments Group Ltd. reduced its position in International Business Machines Co. (NYSE:IBM) by 7.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 599,775 shares of the technology company’s stock after selling 47,996 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of International Business Machines worth $131,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Wedbush Securities Inc. increased its position in shares of International Business Machines by 9.2% during the 4th quarter. Wedbush Securities Inc. now owns 58,791 shares of the technology company’s stock valued at $12,924,000 after purchasing an additional 4,934 shares during the last quarter. Envestnet Asset Management Inc. raised its position in International Business Machines by 0.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,361,646 shares of the technology company’s stock worth $299,331,000 after acquiring an additional 3,573 shares during the period. Perennial Investment Advisors LLC grew its position in shares of International Business Machines by 5.2% during the 4th quarter. Perennial Investment Advisors LLC now owns 5,056 shares of the technology company’s stock valued at $1,111,000 after acquiring an additional 250 shares during the period. Aviva PLC increased its stake in shares of International Business Machines by 6.8% in the 4th quarter. Aviva PLC now owns 554,867 shares of the technology company’s stock worth $121,976,000 after purchasing an additional 35,218 shares in the last quarter. Finally, Oarsman Capital Inc. raised its holdings in International Business Machines by 5.6% in the 4th quarter. Oarsman Capital Inc. now owns 10,455 shares of the technology company’s stock worth $2,298,000 after purchasing an additional 556 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE IBM opened at $227.31 on Friday. The business’s 50 day moving average price is $251.46 and its 200-day moving average price is $232.41. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $266.45. The company has a market cap of $210.78 billion, a P/E ratio of 35.46, a P/E/G ratio of 5.81 and a beta of 0.67. 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 announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating 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%. Sell-side analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.94%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Insiders Place Their Bets

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on IBM shares. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. JPMorgan Chase & Co. raised their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. UBS Group increased their price target on 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, Oppenheimer started coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.