Neumann Capital Management LLC reduced its stake in shares of International Business Machines Corp. (NYSE:IBM) by 13.5% in the 4th quarter, HoldingsChannel reports. The fund owned 4,541 shares of the technology company’s stock after selling 709 shares during the quarter. Neumann Capital Management LLC’s holdings in International Business Machines were worth $697,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in IBM. ETF Managers Group LLC acquired a new stake in shares of International Business Machines in the second quarter valued at $121,000. Price Wealth Management Inc. acquired a new stake in shares of International Business Machines in the fourth quarter valued at $122,000. Cerebellum GP LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at $126,000. Horan Capital Advisors LLC. acquired a new stake in shares of International Business Machines in the third quarter valued at $136,000. Finally, Risk Paradigm Group LLC acquired a new stake in shares of International Business Machines in the second quarter valued at $165,000. Hedge funds and other institutional investors own 56.99% of the company’s stock.
In other news, insider Diane J. Gherson sold 5,000 shares of International Business Machines stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $156.00, for a total transaction of $780,000.00. Following the transaction, the insider now owns 20,581 shares in the company, valued at approximately $3,210,636. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Erich Clementi sold 13,000 shares of International Business Machines stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $154.66, for a total value of $2,010,580.00. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.
International Business Machines (NYSE:IBM) last issued its earnings results on Thursday, January 18th. The technology company reported $5.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.17 by $0.01. International Business Machines had a return on equity of 69.48% and a net margin of 7.27%. The firm had revenue of $22.54 billion for the quarter, compared to analysts’ expectations of $22.03 billion. During the same quarter last year, the business earned $5.01 earnings per share. The company’s revenue was up 3.6% compared to the same quarter last year. sell-side analysts expect that International Business Machines Corp. will post 13.82 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Friday, February 9th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is currently 98.20%.
A number of brokerages have recently weighed in on IBM. Cantor Fitzgerald restated a “hold” rating and issued a $152.00 target price on shares of International Business Machines in a research note on Friday, January 19th. Zacks Investment Research lowered International Business Machines from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. JPMorgan Chase & Co. set a $167.00 target price on International Business Machines and gave the company a “neutral” rating in a research note on Friday, January 19th. Vetr upgraded International Business Machines from a “buy” rating to a “strong-buy” rating and set a $170.25 target price for the company in a research note on Monday, November 27th. Finally, Goldman Sachs set a $170.00 price objective on International Business Machines and gave the stock a “neutral” rating in a research report on Friday, January 19th. Six investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $166.01.
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International Business Machines Company Profile
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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