Sumitomo Life Insurance Co. Trims Stake in International Business Machines Co. (NYSE:IBM)

Sumitomo Life Insurance Co. lessened its stake in International Business Machines Co. (NYSE:IBM) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,487 shares of the technology company’s stock after selling 150 shares during the period. Sumitomo Life Insurance Co.’s holdings in International Business Machines were worth $1,206,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. increased its stake in shares of International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC acquired a new stake in International Business Machines in the 3rd quarter worth about $29,000. Avondale Wealth Management increased its stake in International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares in the last quarter. Valued Wealth Advisors LLC raised its holdings in shares of International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after acquiring an additional 90 shares during the last quarter. Finally, Modus Advisors LLC purchased a new position in shares of International Business Machines in the fourth quarter valued at approximately $40,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on IBM shares. Jefferies Financial Group lifted their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. upped their price objective on shares of International Business Machines from $227.00 to $233.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Bank of America raised their target price on shares of International Business Machines from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. UBS Group upped their price target on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. Finally, Sanford C. Bernstein lifted 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. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus price target of $220.40.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $229.13 on Thursday. International Business Machines Co. has a one year low of $162.62 and a one year high of $239.35. The stock has a market cap of $211.86 billion, a PE ratio of 33.35, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74. The business’s fifty day moving average price is $224.95 and its two-hundred day moving average price is $213.44. 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 posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. On average, analysts forecast that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.07% of the stock is currently owned by insiders.

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.