International Business Machines Co. (NYSE:IBM) Shares Sold by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co trimmed its position in shares of International Business Machines Co. (NYSE:IBM) by 25.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,858 shares of the technology company’s stock after selling 11,910 shares during the period. International Business Machines comprises about 1.5% of DORCHESTER WEALTH MANAGEMENT Co’s portfolio, making the stock its 23rd biggest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in International Business Machines were worth $7,663,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. State Street Corp increased its stake in International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. FMR LLC increased its stake in International Business Machines by 6.0% in the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after purchasing an additional 294,276 shares during the last quarter. Swiss National Bank increased its stake in International Business Machines by 0.5% in the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after purchasing an additional 12,400 shares during the last quarter. Holocene Advisors LP purchased a new position in International Business Machines in the third quarter valued at approximately $573,306,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in International Business Machines by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,473,421 shares of the technology company’s stock valued at $546,824,000 after purchasing an additional 32,732 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IBM. Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Monday, January 27th. Bank of America raised their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. BMO Capital Markets raised their target price on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Finally, Jefferies Financial Group raised their target price on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Down 1.1 %

IBM opened at $261.77 on Friday. The firm has a 50 day moving average price of $235.27 and a 200 day moving average price of $222.05. The company has a market cap of $242.05 billion, a PE ratio of 40.84, a price-to-earnings-growth ratio of 5.81 and a beta of 0.76. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72. 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 posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 expect 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 announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

International Business Machines Company Profile

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.