Cresset Asset Management LLC Sells 40,754 Shares of International Business Machines Co. (NYSE:IBM)

Cresset Asset Management LLC decreased its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 21.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,484 shares of the technology company's stock after selling 40,754 shares during the period. Cresset Asset Management LLC's holdings in International Business Machines were worth $32,421,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Capital World Investors boosted its position in shares of International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after acquiring an additional 9,650,534 shares during the period. Norges Bank bought a new stake in International Business Machines in the 4th quarter valued at $1,236,176,000. Raymond James Financial Inc. acquired a new stake in International Business Machines in the 4th quarter worth $592,746,000. Northern Trust Corp increased its holdings in shares of International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock worth $2,384,275,000 after purchasing an additional 1,704,209 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of International Business Machines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock valued at $20,189,023,000 after buying an additional 1,539,888 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IBM has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on International Business Machines from $233.00 to $244.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Oppenheimer started coverage on International Business Machines in a research report on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price objective on the stock. Morgan Stanley decreased their price target on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Bank of America increased their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Finally, UBS Group reiterated a "sell" rating and set a $170.00 target price (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $248.50.

International Business Machines Price Performance

Shares of IBM stock opened at $249.22 on Tuesday. The stock's fifty day moving average is $243.06 and its 200-day moving average is $234.27. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a 52 week low of $163.53 and a 52 week high of $266.45. The stock has a market capitalization of $231.62 billion, a PE ratio of 38.88, a PEG ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The company had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. During the same period last year, the firm earned $1.68 EPS. The business's revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.70%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is 115.66%.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares of the company's stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company's stock.

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.

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