Crestline Management LP Sells 2,969 Shares of International Business Machines Co. (NYSE:IBM)

Crestline Management LP reduced its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 54.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,492 shares of the technology company's stock after selling 2,969 shares during the period. Crestline Management LP's holdings in International Business Machines were worth $548,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Compass Financial Services Inc acquired a new stake in shares of International Business Machines in the 4th quarter valued at about $26,000. Vision Financial Markets LLC bought a new position in International Business Machines in the fourth quarter worth approximately $31,000. Avondale Wealth Management grew its stake in International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company's stock valued at $34,000 after acquiring an additional 56 shares during the period. Valued Wealth Advisors LLC raised its position in shares of International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock worth $35,000 after purchasing an additional 90 shares during the period. Finally, Rialto Wealth Management LLC bought a new position in shares of International Business Machines in the 4th quarter worth $35,000. 58.96% of the stock is owned by institutional investors.

Insider Transactions at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on IBM shares. Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Oppenheimer assumed coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $276.00 target price on shares of International Business Machines in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $248.50.

International Business Machines Stock Performance

IBM traded down $4.82 during trading on Friday, hitting $249.32. 2,900,243 shares of the company traded hands, compared to its average volume of 4,208,418. The firm has a market cap of $231.72 billion, a P/E ratio of 38.90, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a one year low of $163.53 and a one year high of $266.45. The stock's fifty day moving average is $243.01 and its 200 day moving average is $234.91.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The company had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same quarter last year, the business posted $1.68 EPS. International Business Machines's quarterly revenue was up .5% compared to the same quarter last year. As a group, equities analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

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

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.