New England Asset Management Inc. Decreases Stake in International Business Machines Co. (NYSE:IBM)

New England Asset Management Inc. decreased its stake in International Business Machines Co. (NYSE:IBM - Free Report) by 31.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,655 shares of the technology company's stock after selling 10,520 shares during the quarter. New England Asset Management Inc.'s holdings in International Business Machines were worth $4,980,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Capital World Investors raised its stake 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 position in International Business Machines during the 4th quarter valued at about $1,236,176,000. Raymond James Financial Inc. purchased a new stake in International Business Machines in the 4th quarter worth about $592,746,000. Northern Trust Corp lifted its stake in International Business Machines by 18.6% in the fourth 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 last quarter. Finally, Vanguard Group Inc. boosted 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 period. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Down 0.2%

NYSE IBM traded down $0.40 during midday trading on Wednesday, hitting $258.19. 3,634,691 shares of the company traded hands, compared to its average volume of 4,218,584. International Business Machines Co. has a 52 week low of $163.53 and a 52 week high of $266.45. The company's 50-day simple moving average is $243.19 and its 200-day simple moving average is $235.51. The company has a market cap of $239.96 billion, a PE ratio of 40.28, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. During the same period in the prior year, the business posted $1.68 EPS. The firm's quarterly revenue was up .5% on a year-over-year basis. As a group, equities research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently disclosed 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 represents a $6.72 dividend on an annualized basis and a dividend yield of 2.60%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is presently 115.66%.

Analyst Ratings Changes

Several brokerages have recently weighed in on IBM. Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research report on Saturday. The Goldman Sachs Group restated a "buy" rating on shares of International Business Machines in a report on Wednesday, February 5th. Wedbush reiterated an "outperform" rating and set a $300.00 price objective on shares of International Business Machines in a report on Wednesday, May 7th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $276.00 target price on shares of International Business Machines in a research note on Monday, April 14th. One investment 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $248.50.

Insider Buying and Selling

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 transaction, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by company insiders.

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.