Bartlett & Co. LLC decreased its position in International Business Machines Corp. (NYSE:IBM) by 0.7% during the 4th quarter, Holdings Channel reports. The firm owned 78,379 shares of the technology company’s stock after selling 540 shares during the quarter. Bartlett & Co. LLC’s holdings in International Business Machines were worth $12,025,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of IBM. Private Capital Management Inc. grew its holdings in International Business Machines by 71.3% during the 3rd quarter. Private Capital Management Inc. now owns 3,425 shares of the technology company’s stock worth $497,000 after acquiring an additional 1,425 shares during the last quarter. Hourglass Capital LLC grew its holdings in International Business Machines by 83.5% during the 2nd quarter. Hourglass Capital LLC now owns 51,680 shares of the technology company’s stock worth $7,950,000 after acquiring an additional 23,510 shares during the last quarter. Flippin Bruce & Porter Inc. grew its holdings in International Business Machines by 6.2% during the 2nd quarter. Flippin Bruce & Porter Inc. now owns 85,378 shares of the technology company’s stock worth $13,134,000 after acquiring an additional 4,956 shares during the last quarter. Caxton Associates LP grew its holdings in International Business Machines by 23.5% during the 2nd quarter. Caxton Associates LP now owns 4,200 shares of the technology company’s stock worth $646,000 after acquiring an additional 800 shares during the last quarter. Finally, Intl Fcstone Inc. bought a new stake in International Business Machines during the 2nd quarter worth about $1,116,000. 58.78% of the stock is currently owned by institutional investors and hedge funds.
Shares of International Business Machines Corp. (IBM) opened at $156.55 on Wednesday. The firm has a market cap of $144,930.00, a P/E ratio of 13.00, a P/E/G ratio of 2.27 and a beta of 0.94. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.33 and a quick ratio of 1.29. International Business Machines Corp. has a 52-week low of $139.13 and a 52-week high of $182.55.
The company also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Friday, February 9th will be given a $1.50 dividend. The ex-dividend date is Thursday, February 8th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.83%. International Business Machines’s dividend payout ratio is 49.83%.
A number of equities research analysts have commented on the stock. Morgan Stanley lowered shares of International Business Machines from an “equal weight” rating to an “underweight” rating and increased their price objective for the stock from $200.00 to $205.00 in a report on Tuesday, January 23rd. Cantor Fitzgerald reissued a “hold” rating and set a $152.00 price objective on shares of International Business Machines in a report on Friday, January 19th. Royal Bank of Canada reissued a “buy” rating and set a $180.00 price objective on shares of International Business Machines in a report on Friday, January 19th. Societe Generale set a $149.00 price objective on shares of International Business Machines and gave the stock a “sell” rating in a report on Friday, January 19th. Finally, JPMorgan Chase & Co. set a $167.00 target price on shares of International Business Machines and gave the company a “neutral” rating in a research note on Friday, January 19th. Seven investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the company. International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $164.37.
In other International Business Machines news, insider Erich Clementi sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $154.66, for a total transaction of $2,010,580.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Diane J. Gherson sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $156.00, for a total transaction of $780,000.00. Following the sale, the insider now owns 20,581 shares in the company, valued at $3,210,636. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.
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About International Business Machines
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
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