Keybank National Association OH Lowers Stock Position in International Business Machines Co. (NYSE:IBM)

Keybank National Association OH lowered its position in International Business Machines Co. (NYSE:IBM) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 233,354 shares of the technology company’s stock after selling 1,890 shares during the period. Keybank National Association OH’s holdings in International Business Machines were worth $51,298,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IBM. Holocene Advisors LP purchased a new stake in shares of International Business Machines in the third quarter valued at about $573,306,000. State Street Corp increased 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 buying an additional 1,200,803 shares during the last quarter. KBC Group NV increased its holdings in International Business Machines by 90.4% during the fourth quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after buying an additional 800,930 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in International Business Machines by 23,311.1% during the fourth quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock worth $153,262,000 after buying an additional 694,204 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in International Business Machines by 39,801.6% during the fourth quarter. Proficio Capital Partners LLC now owns 590,543 shares of the technology company’s stock worth $129,819,000 after buying an additional 589,063 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.07% of the stock is currently owned by insiders.

International Business Machines Price Performance

IBM opened at $250.04 on Tuesday. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $265.72. The stock has a market capitalization of $231.85 billion, a P/E ratio of 39.01, a P/E/G ratio of 5.81 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The company’s 50-day simple moving average is $238.93 and its two-hundred day simple moving average is $224.98.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.67%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is 104.21%.

Analysts Set New Price Targets

IBM has been the subject of several recent research reports. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Morgan Stanley raised their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. raised their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Bank of America raised their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Jefferies Financial Group raised their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $231.44.

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.