Advisors Asset Management Inc. Reduces Holdings in International Business Machines Co. (NYSE:IBM)

Advisors Asset Management Inc. decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 233,441 shares of the technology company’s stock after selling 3,187 shares during the period. International Business Machines makes up approximately 0.9% of Advisors Asset Management Inc.’s investment portfolio, making the stock its 11th largest holding. Advisors Asset Management Inc.’s holdings in International Business Machines were worth $51,317,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp increased its holdings 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 buying an additional 1,200,803 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of International Business Machines by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company’s stock worth $1,465,223,000 after acquiring an additional 126,547 shares during the last quarter. FMR LLC increased its stake in shares of International Business Machines by 6.0% in the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after acquiring an additional 294,276 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of International Business Machines in the 4th quarter worth $592,746,000. Finally, Holocene Advisors LP acquired a new stake in shares of International Business Machines in the 3rd quarter worth $573,306,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on IBM shares. Morgan Stanley raised their target price on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Oppenheimer initiated coverage on International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. Sanford C. Bernstein raised their price objective on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research report on Monday, January 27th. Finally, Wedbush initiated coverage on International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Performance

Shares of IBM opened at $253.00 on Tuesday. The stock has a 50-day simple moving average of $244.84 and a 200-day simple moving average of $228.85. The stock has a market capitalization of $234.60 billion, a PE ratio of 39.47, a PEG ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

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

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

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.