Krane Funds Advisors LLC Sells 121 Shares of International Business Machines Co. (NYSE:IBM)

Krane Funds Advisors LLC lessened its holdings in International Business Machines Co. (NYSE:IBM) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,702 shares of the technology company’s stock after selling 121 shares during the quarter. Krane Funds Advisors LLC’s holdings in International Business Machines were worth $374,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in IBM. Compass Financial Services Inc bought a new position in International Business Machines during the 4th quarter worth approximately $26,000. Vision Financial Markets LLC bought a new position in shares of International Business Machines during the fourth quarter valued at about $31,000. Avondale Wealth Management boosted 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 worth $34,000 after purchasing an additional 56 shares during the period. Valued Wealth Advisors LLC lifted its holdings in International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after buying an additional 90 shares during the period. Finally, Rialto Wealth Management LLC bought a new position in shares of International Business Machines during the fourth quarter valued at approximately $35,000. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IBM has been the topic of a number of research analyst reports. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Sanford C. Bernstein lifted their price target on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. BMO Capital Markets increased their price objective on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price target 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. Finally, Morgan Stanley upped their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $231.13.

International Business Machines Trading Down 6.6 %

Shares of IBM stock opened at $227.31 on Monday. The stock has a market capitalization 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 current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45. The firm’s 50 day moving average is $251.46 and its 200 day moving average is $232.66.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data 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%. Research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

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. This represents a $6.68 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date was 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 that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company 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.