Convergence Investment Partners LLC Sells 11,273 Shares of International Business Machines Co. (NYSE:IBM)

Convergence Investment Partners LLC trimmed its stake in shares of International Business Machines Co. (NYSE:IBM) by 34.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,551 shares of the technology company’s stock after selling 11,273 shares during the quarter. International Business Machines accounts for 1.1% of Convergence Investment Partners LLC’s portfolio, making the stock its 18th largest holding. Convergence Investment Partners LLC’s holdings in International Business Machines were worth $4,737,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Plan Group Financial LLC grew its position in International Business Machines by 9.2% in the fourth quarter. Plan Group Financial LLC now owns 4,619 shares of the technology company’s stock valued at $1,015,000 after acquiring an additional 388 shares during the period. Allied Investment Advisors LLC boosted its stake in shares of International Business Machines by 3.8% in the 4th quarter. Allied Investment Advisors LLC now owns 5,404 shares of the technology company’s stock valued at $1,188,000 after purchasing an additional 200 shares in the last quarter. Bank of Jackson Hole Trust bought a new stake in shares of International Business Machines in the 4th quarter worth about $86,000. Callahan Advisors LLC lifted its holdings in International Business Machines by 81.0% during the 4th quarter. Callahan Advisors LLC now owns 5,558 shares of the technology company’s stock valued at $1,222,000 after purchasing an additional 2,488 shares during the last quarter. Finally, Mcdonald Partners LLC grew its stake in International Business Machines by 1.8% during the fourth quarter. Mcdonald Partners LLC now owns 18,726 shares of the technology company’s stock worth $4,117,000 after buying an additional 329 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Up 0.6 %

NYSE:IBM opened at $262.85 on Wednesday. The firm has a market capitalization of $243.04 billion, a price-to-earnings ratio of 41.01, a PEG ratio of 5.73 and a beta of 0.76. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $265.72. The business’s 50-day moving average price is $233.32 and its two-hundred day moving average price is $220.66. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, equities analysts expect that International Business Machines Co. will post 10.77 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on IBM shares. Morgan Stanley boosted their target price on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. UBS Group boosted their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Sanford C. Bernstein raised their target price on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Jefferies Financial Group upped their price target on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Finally, StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $231.44.

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.