OVERSEA CHINESE BANKING Corp Ltd Sells 13,924 Shares of International Business Machines Co. (NYSE:IBM)

OVERSEA CHINESE BANKING Corp Ltd lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 91.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,222 shares of the technology company’s stock after selling 13,924 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in International Business Machines were worth $269,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. JBR Co Financial Management Inc raised its holdings in shares of International Business Machines by 0.6% during the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock valued at $1,405,000 after acquiring an additional 40 shares in the last quarter. Schechter Investment Advisors LLC raised its holdings in shares of 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 valued at $1,396,000 after acquiring an additional 43 shares in the last quarter. Callan Capital LLC grew its stake in 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 purchasing an additional 44 shares during the period. Marks Group Wealth Management Inc grew its stake in International Business Machines by 0.4% in the fourth quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock worth $2,292,000 after purchasing an additional 45 shares during the period. Finally, Tower Wealth Partners Inc. grew its stake in International Business Machines by 1.9% in the fourth quarter. Tower Wealth Partners Inc. now owns 2,376 shares of the technology company’s stock worth $522,000 after purchasing an additional 45 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 3.5 %

International Business Machines stock opened at $243.42 on Friday. 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 Co. has a one year low of $162.62 and a one year high of $266.45. The stock has a market capitalization of $225.71 billion, a PE ratio of 37.98, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The business’s fifty day moving average is $246.29 and its 200 day moving average is $229.42.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating 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, sell-side analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio is 104.21%.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the 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 represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Bank of America upped their price target on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Wedbush assumed coverage on International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating on the stock. Morgan Stanley upped their price target 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. Sanford C. Bernstein upped their price target on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Finally, StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus 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.