Meyer Handelman Co. Cuts Holdings in International Business Machines Co. (NYSE:IBM)

Meyer Handelman Co. cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 352,193 shares of the technology company’s stock after selling 1,493 shares during the period. International Business Machines comprises approximately 2.7% of Meyer Handelman Co.’s investment portfolio, making the stock its 6th largest holding. Meyer Handelman Co.’s holdings in International Business Machines were worth $77,423,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Hazlett Burt & Watson Inc. lifted its stake in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of International Business Machines during the 3rd quarter valued at $29,000. Avondale Wealth Management increased its position in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares during the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines during the 2nd quarter valued at $36,000. Finally, Modus Advisors LLC purchased a new stake in shares of International Business Machines during the 4th quarter valued at $40,000. 58.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IBM has been the subject of several research analyst reports. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Morgan Stanley raised their target price on International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. The Goldman Sachs Group raised their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Sanford C. Bernstein raised their target price on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Finally, Bank of America lifted their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $215.81.

Insider Buying and Selling

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is currently owned by insiders.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $217.54 on Wednesday. The company has a 50 day moving average of $222.34 and a 200 day moving average of $210.16. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The stock has a market cap of $201.15 billion, a P/E ratio of 31.67, a P/E/G ratio of 5.18 and a beta of 0.74. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $239.35.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.20 EPS. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

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.