LGT Fund Management Co Ltd. Sells 1,558 Shares of International Business Machines Co. (NYSE:IBM)

LGT Fund Management Co Ltd. trimmed its position in International Business Machines Co. (NYSE:IBM) by 59.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,063 shares of the technology company’s stock after selling 1,558 shares during the period. LGT Fund Management Co Ltd.’s holdings in International Business Machines were worth $234,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IBM. Holocene Advisors LP bought a new stake in International Business Machines in the 3rd quarter worth about $573,306,000. State Street Corp grew its position in International Business Machines by 2.2% in the 3rd 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. KBC Group NV grew its position in International Business Machines by 90.4% in the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after purchasing an additional 800,930 shares in the last quarter. Strategic Financial Concepts LLC grew its position in International Business Machines by 23,311.1% in the 4th quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock worth $153,262,000 after purchasing an additional 694,204 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its position in International Business Machines by 39,801.6% in the 4th quarter. Proficio Capital Partners LLC now owns 590,543 shares of the technology company’s stock worth $129,819,000 after purchasing an additional 589,063 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Insider Transactions at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of research reports. Bank of America increased their target price 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. UBS Group increased their target price on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. Jefferies Financial Group increased their target price 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. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Monday, January 27th. Finally, Sanford C. Bernstein increased their target price on shares of 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $231.44.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $250.04 on Tuesday. The company’s fifty day moving average price is $238.93 and its 200-day moving average price is $224.98. The firm has a market capitalization of $231.85 billion, a price-to-earnings ratio of 39.01, a PEG ratio of 5.81 and a beta of 0.76. International Business Machines Co. has a one year low of $162.62 and a one year high of $265.72. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 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%. On average, equities research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

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

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.