Woodline Partners LP Has $11.14 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Woodline Partners LP lessened its position in International Business Machines Co. (NYSE:IBM - Free Report) by 72.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,662 shares of the technology company's stock after selling 131,058 shares during the period. Woodline Partners LP's holdings in International Business Machines were worth $11,137,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Compass Financial Services Inc bought a new position in shares of International Business Machines in the 4th quarter valued at about $26,000. Vision Financial Markets LLC bought a new stake in shares of International Business Machines during the 4th quarter worth about $31,000. Valued Wealth Advisors LLC boosted its holdings in shares of International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock worth $35,000 after buying an additional 90 shares during the period. Rialto Wealth Management LLC bought a new stake in shares of International Business Machines during the 4th quarter worth about $35,000. Finally, Tacita Capital Inc boosted its holdings in shares of International Business Machines by 174.3% during the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock worth $42,000 after buying an additional 122 shares during the period. Institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Royal Bank of Canada lifted their target price on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of International Business Machines in a report on Wednesday, February 5th. BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. UBS Group reaffirmed a "sell" rating and set a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Wall Street Zen downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $249.06.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.18% of the company's stock.

International Business Machines Price Performance

Shares of NYSE:IBM traded up $0.42 during midday trading on Friday, hitting $258.79. The stock had a trading volume of 2,722,620 shares, compared to its average volume of 4,215,077. The company's 50-day moving average price is $245.13 and its 200-day moving average price is $238.19. The company has a market capitalization of $240.52 billion, a P/E ratio of 40.37, 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 fifty-two week low of $163.53 and a fifty-two week high of $269.28.

International Business Machines (NYSE:IBM - Get Free Report) last issued 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. The company had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business's revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.68 EPS. As a group, equities research 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 announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a $1.68 dividend. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.60%. International Business Machines's payout ratio is presently 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.