Lazard Asset Management LLC Sells 28,780 Shares of International Business Machines Co. (NYSE:IBM)

Lazard Asset Management LLC cut its position in International Business Machines Co. (NYSE:IBM - Free Report) by 17.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,973 shares of the technology company's stock after selling 28,780 shares during the quarter. Lazard Asset Management LLC's holdings in International Business Machines were worth $30,768,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in IBM. Compass Financial Services Inc bought a new stake in shares of International Business Machines during the 4th quarter valued at $26,000. Vision Financial Markets LLC bought a new stake in shares of International Business Machines during the 4th quarter valued at $31,000. Valued Wealth Advisors LLC raised its stake 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 valued at $35,000 after purchasing 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 valued at $35,000. Finally, Tacita Capital Inc raised its stake 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 valued at $42,000 after purchasing an additional 122 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Insider Transactions at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the firm's stock in a transaction on 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 directly owns 45,007 shares of the company's stock, valued at approximately $11,387,221.07. This trade represents a 37.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.18% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. UBS Group restated a "sell" rating and issued a $170.00 target price (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Wedbush reiterated an "outperform" rating and issued a $300.00 price objective on shares of International Business Machines in a report on Wednesday, May 7th. Royal Bank of Canada restated an "outperform" rating and set a $276.00 target price on shares of International Business Machines in a report on Monday, April 14th. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research report on Saturday. Finally, Morgan Stanley decreased their target price on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, International Business Machines has a consensus rating of "Moderate Buy" and an average target price of $248.50.

International Business Machines Stock Performance

Shares of IBM stock traded down $0.40 on Wednesday, reaching $258.19. The stock had a trading volume of 3,634,691 shares, compared to its average volume of 4,218,584. The stock has a market cap of $239.96 billion, a P/E ratio of 40.28, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a 1 year low of $163.53 and a 1 year high of $266.45. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The company has a 50 day simple moving average of $243.19 and a 200 day simple moving average of $235.51.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The company's revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the business posted $1.68 EPS. Equities research analysts expect that International Business Machines Co. will post 10.78 EPS for the current 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 paid a $1.68 dividend. This is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.60%. International Business Machines's dividend payout ratio (DPR) is 115.66%.

About International Business Machines

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.