Shell Asset Management Co. lessened its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 13.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,747 shares of the technology company's stock after selling 2,701 shares during the quarter. Shell Asset Management Co.'s holdings in International Business Machines were worth $3,681,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in IBM. Vanguard Group Inc. grew its holdings 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 worth $20,189,023,000 after purchasing an additional 1,539,888 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of International Business Machines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company's stock worth $4,589,145,000 after purchasing an additional 427,499 shares in the last quarter. Capital World Investors grew its holdings in shares of International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Northern Trust Corp grew its holdings in shares of International Business Machines by 18.6% during 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of International Business Machines by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company's stock worth $1,465,223,000 after purchasing an additional 126,547 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.
International Business Machines Stock Performance
Shares of IBM stock opened at $266.70 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a fifty-two week low of $163.53 and a fifty-two week high of $267.98. The stock has a 50 day moving average price of $243.74 and a two-hundred day moving average price of $236.27. The company has a market capitalization of $247.87 billion, a P/E ratio of 41.61, a PEG ratio of 5.81 and a beta of 0.64.
International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. The company had revenue of $14.54 billion during 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 firm's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.68 earnings per share. Analysts expect that International Business Machines Co. will post 10.78 earnings per share 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. Investors of record on Friday, May 9th will be issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.52%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is currently 115.66%.
Wall Street Analyst Weigh In
IBM has been the subject of several research reports. Bank of America upped their target price on International Business Machines from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. UBS Group reaffirmed a "sell" rating and issued a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. KGI Securities set a $242.00 target price on International Business Machines and gave the stock a "hold" rating in a research note on Thursday, April 24th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of International Business Machines in a research note on Wednesday, February 5th. Finally, Oppenheimer initiated coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 target price for the company. One 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $249.06.
Read Our Latest Research Report on International Business Machines
Insider Activity at International Business Machines
In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the 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 completion of the transaction, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by corporate insiders.
About International Business Machines
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Free Report)
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.
Further Reading
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