Douglas Lane & Associates LLC Trims Stake in International Business Machines Co. (NYSE:IBM)

Douglas Lane & Associates LLC cut its position in shares of International Business Machines Co. (NYSE:IBM) by 4.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 208,707 shares of the technology company’s stock after selling 9,143 shares during the quarter. Douglas Lane & Associates LLC’s holdings in International Business Machines were worth $45,880,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. grew its stake in shares of International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares during the last quarter. Hara Capital LLC purchased a new stake in shares of International Business Machines in the third quarter worth $29,000. Modus Advisors LLC purchased a new position in shares of International Business Machines in the 4th quarter worth about $40,000. Capital Performance Advisors LLP bought a new position in shares of International Business Machines in the third quarter worth approximately $43,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new position in International Business Machines in the 2nd quarter worth approximately $36,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

NYSE IBM traded down $0.88 on Wednesday, reaching $223.08. 1,294,728 shares of the stock were exchanged, compared to its average volume of 2,762,877. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a one year low of $159.51 and a one year high of $239.35. The firm has a market capitalization of $206.27 billion, a PE ratio of 32.47, a PEG ratio of 5.18 and a beta of 0.74. The company’s 50-day simple moving average is $221.01 and its two-hundred day simple moving average is $208.49.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the previous year, the business earned $2.20 earnings per share. The business’s revenue was up 1.5% on a year-over-year basis. Analysts expect that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.99%. International Business Machines’s payout ratio is 97.23%.

Insider Buying and Selling at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on IBM. BMO Capital Markets increased their price objective on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Jefferies Financial Group raised their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Morgan Stanley boosted their target price on shares of International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. Finally, Bernstein Bank raised their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $214.88.

International Business Machines 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.