Cerro Pacific Wealth Advisors LLC Cuts Stock Position in International Business Machines Co. (NYSE:IBM)

Cerro Pacific Wealth Advisors LLC trimmed its position in International Business Machines Co. (NYSE:IBM) by 11.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,068 shares of the technology company’s stock after selling 270 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in International Business Machines were worth $457,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. State Street Corp raised its holdings in International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares in the last quarter. Legal & General Group Plc raised its stake in shares of International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after buying an additional 330,694 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after buying an additional 444,698 shares during the period. FMR LLC boosted its stake in shares of 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 buying an additional 294,276 shares in the last quarter. Finally, Swiss National Bank grew its holdings in International Business Machines by 0.5% during the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock worth $602,819,000 after acquiring an additional 12,400 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines 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 in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IBM shares. UBS Group raised their target price on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research note on Wednesday, October 2nd. BMO Capital Markets upped their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Bernstein Bank lifted their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. upped their price target on International Business Machines from $227.00 to $233.00 and gave the stock a “neutral” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, International Business Machines currently has an average rating of “Hold” and an average price target of $220.73.

International Business Machines Stock Performance

Shares of IBM opened at $225.63 on Friday. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $239.35. The company’s 50 day simple moving average is $223.60 and its 200 day simple moving average is $211.90. The company has a market capitalization of $208.63 billion, a price-to-earnings ratio of 32.84, a PEG ratio of 4.78 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM) last issued its quarterly 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 company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.20 EPS. On average, sell-side analysts predict that International Business Machines Co. will post 10.16 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

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.