ING Groep NV Has $61.10 Million Stock Position in International Business Machines Co. (NYSE:IBM)

ING Groep NV cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 8.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 277,952 shares of the technology company’s stock after selling 26,522 shares during the quarter. ING Groep NV’s holdings in International Business Machines were worth $61,102,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Trilogy Capital Inc. bought a new stake in International Business Machines during the 3rd quarter worth approximately $203,000. Foundations Investment Advisors LLC boosted its holdings in shares of International Business Machines by 5.7% in the 3rd quarter. Foundations Investment Advisors LLC now owns 30,301 shares of the technology company’s stock valued at $6,699,000 after buying an additional 1,626 shares during the last quarter. Calton & Associates Inc. acquired a new stake in shares of International Business Machines in the 3rd quarter valued at approximately $237,000. Eastern Bank lifted its holdings in International Business Machines by 1,392.9% during the 3rd quarter. Eastern Bank now owns 22,453 shares of the technology company’s stock valued at $4,964,000 after purchasing an additional 20,949 shares during the last quarter. Finally, BLB&B Advisors LLC lifted its holdings in International Business Machines by 0.9% during the 3rd quarter. BLB&B Advisors LLC now owns 23,929 shares of the technology company’s stock valued at $5,290,000 after purchasing an additional 222 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of IBM opened at $263.98 on Thursday. The business has a fifty day moving average of $234.00 and a 200 day moving average of $220.96. International Business Machines Co. has a one year low of $162.62 and a one year high of $265.72. The firm has a market capitalization of $244.08 billion, a P/E ratio of 41.18, a PEG ratio of 5.77 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last released its quarterly earnings data 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 return on equity of 38.99% and a net margin of 9.60%. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.77 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.53%. International Business Machines’s payout ratio is currently 104.21%.

Analyst Ratings Changes

IBM has been the subject of a number of research reports. Wedbush assumed coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Monday, January 27th. Oppenheimer assumed coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective on the stock. Sanford C. Bernstein boosted 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. Finally, JPMorgan Chase & Co. boosted their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average target price of $231.44.

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.