Cookson Peirce & Co. Inc. Lowers Stock Position in International Business Machines Co. (NYSE:IBM)

Cookson Peirce & Co. Inc. trimmed its stake in International Business Machines Co. (NYSE:IBM) by 0.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 7,238 shares of the technology company’s stock after selling 53 shares during the period. Cookson Peirce & Co. Inc.’s holdings in International Business Machines were worth $1,591,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. JBR Co Financial Management Inc lifted its stake in shares of International Business Machines by 0.6% in the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock valued at $1,405,000 after purchasing an additional 40 shares in the last quarter. Schechter Investment Advisors LLC grew its stake in International Business Machines by 0.7% during the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock worth $1,396,000 after buying an additional 43 shares during the period. Callan Capital LLC increased its position in shares of International Business Machines by 2.4% in the fourth quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock worth $411,000 after acquiring an additional 44 shares in the last quarter. Marks Group Wealth Management Inc raised its stake in shares of International Business Machines by 0.4% in the 4th quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock valued at $2,292,000 after acquiring an additional 45 shares during the period. Finally, First Affirmative Financial Network lifted its holdings in shares of International Business Machines by 1.5% during the 4th quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company’s stock valued at $687,000 after acquiring an additional 46 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Up 1.1 %

Shares of NYSE IBM opened at $253.07 on Wednesday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $265.72. The company has a market cap of $234.66 billion, a price-to-earnings ratio of 39.48, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The stock’s 50 day simple moving average is $239.50 and its 200 day simple moving average is $225.40.

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, topping 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%. Equities research analysts expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

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

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated 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. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IBM shares. BMO Capital Markets upped their target price on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Jefferies Financial Group boosted their target price on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price target on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Wedbush started coverage on shares of International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating for the company. Finally, Oppenheimer began coverage on International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price on the stock. 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 company. Based on data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus target price of $231.44.

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.