Banque Pictet & Cie SA Decreases Stock Holdings in International Business Machines Co. (NYSE:IBM)

Banque Pictet & Cie SA lessened its position in shares of International Business Machines Co. (NYSE:IBM) by 10.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 51,112 shares of the technology company’s stock after selling 5,909 shares during the quarter. Banque Pictet & Cie SA’s holdings in International Business Machines were worth $11,236,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. CFC Planning Co LLC purchased a new stake in International Business Machines during the 4th quarter worth about $1,549,000. Palacios Wealth Management LLC purchased a new stake in shares of International Business Machines during the 4th quarter valued at $999,000. Compagnie Lombard Odier SCmA lifted its stake in shares of International Business Machines by 0.4% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 100,327 shares of the technology company’s stock valued at $22,055,000 after purchasing an additional 355 shares in the last quarter. Root Financial Partners LLC purchased a new stake in International Business Machines during the fourth quarter worth approximately $245,000. Finally, Catalyst Financial Partners LLC boosted its position in International Business Machines by 5.9% during the 4th quarter. Catalyst Financial Partners LLC now owns 4,818 shares of the technology company’s stock worth $1,059,000 after purchasing an additional 270 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IBM shares. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. Sanford C. Bernstein boosted their price target on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Oppenheimer initiated coverage on International Business Machines in a report on Tuesday. They issued an “outperform” rating and a $320.00 price target on the stock. Bank of America boosted their price objective on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, BMO Capital Markets raised their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Two investment 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.com, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Performance

Shares of IBM opened at $259.07 on Friday. International Business Machines Co. has a one year low of $162.62 and a one year high of $265.72. The company has a 50-day moving average of $231.15 and a two-hundred day moving average of $218.49. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The stock has a market cap of $239.55 billion, a price-to-earnings ratio of 40.42, a PEG ratio of 5.57 and a beta of 0.76.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS 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%. On average, equities research analysts expect that International Business Machines Co. will post 10.75 earnings per share for the current year.

International Business Machines Announces Dividend

The firm 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 2.58%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

International Business Machines Company 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.