Intact Investment Management Inc. Has $7.19 Million Position in International Business Machines Co. (NYSE:IBM)

Intact Investment Management Inc. lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 29.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 32,700 shares of the technology company’s stock after selling 13,900 shares during the period. Intact Investment Management Inc.’s holdings in International Business Machines were worth $7,188,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in International Business Machines during the fourth quarter worth $592,746,000. Holocene Advisors LP acquired a new position in International Business Machines during the third quarter worth $573,306,000. State Street Corp raised 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 raised 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. Finally, Strategic Financial Concepts LLC raised 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. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on IBM shares. JPMorgan Chase & Co. upped their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. UBS Group upped their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. BMO Capital Markets increased their target price on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. 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 report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $245.67 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $227.80 billion, a PE ratio of 38.33, a P/E/G ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $266.45. The company has a 50-day moving average price of $243.72 and a two-hundred day moving average price of $227.70.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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%. Equities analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.72%. International Business Machines’s dividend payout ratio is presently 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.