Kovitz Investment Group Partners LLC Has $11.90 Million Position in International Business Machines Co. (NYSE:IBM)

Kovitz Investment Group Partners LLC lessened its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 46.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,131 shares of the technology company's stock after selling 47,525 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in International Business Machines were worth $11,900,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Treasurer of the State of North Carolina grew its position in International Business Machines by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock valued at $108,942,000 after buying an additional 4,131 shares in the last quarter. Blue Zone Wealth Advisors LLC acquired a new position in shares of International Business Machines in the 4th quarter worth approximately $242,000. Brady Martz Wealth Solutions LLC acquired a new stake in International Business Machines during the fourth quarter valued at approximately $1,940,000. Tranquilli Financial Advisor LLC bought a new stake in International Business Machines during the fourth quarter worth approximately $373,000. Finally, Truist Financial Corp lifted its position in shares of International Business Machines by 6.5% during the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock valued at $178,296,000 after acquiring an additional 49,591 shares during the last quarter. Institutional investors own 58.96% of the company's stock.

International Business Machines Price Performance

Shares of IBM stock traded down $1.05 during trading hours on Wednesday, hitting $238.34. 1,294,803 shares of the company's stock were exchanged, compared to its average volume of 4,199,404. The stock's 50-day moving average is $244.27 and its 200-day moving average is $233.97. The stock has a market cap of $221.00 billion, a price-to-earnings ratio of 37.18, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67. 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 Co. has a 52 week low of $162.62 and a 52 week high of $266.45.

International Business Machines (NYSE:IBM - Get Free Report) last announced its 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 company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. International Business Machines's quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business earned $1.68 earnings per share. As a group, research analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be given a dividend of $1.68 per share. 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 yield of 2.82%. International Business Machines's dividend payout ratio is presently 114.97%.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines 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 completion of the sale, the senior vice president now directly owns 45,007 shares of the company's stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. StockNews.com raised shares of International Business Machines from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised their target price on International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. KGI Securities set a $242.00 price objective on International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Wedbush reiterated an "outperform" rating and issued a $300.00 price objective on shares of International Business Machines in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $242.41.

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.