International Business Machines Co. (NYSE:IBM) Holdings Trimmed by Cannell & Spears LLC

Cannell & Spears LLC trimmed its holdings in International Business Machines Co. (NYSE:IBM) by 1.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 36,563 shares of the technology company’s stock after selling 626 shares during the period. Cannell & Spears LLC’s holdings in International Business Machines were worth $8,038,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. JBR Co Financial Management Inc grew its position in International Business Machines by 0.6% in the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock worth $1,405,000 after buying an additional 40 shares during the last quarter. Schechter Investment Advisors LLC lifted its holdings in shares of International Business Machines by 0.7% during the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock valued at $1,396,000 after purchasing an additional 43 shares during the last quarter. Callan Capital LLC boosted its position in shares of International Business Machines by 2.4% in the 4th quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock valued at $411,000 after purchasing an additional 44 shares during the period. Marks Group Wealth Management Inc raised its holdings in International Business Machines by 0.4% during the 4th quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock worth $2,292,000 after buying an additional 45 shares during the period. Finally, Tower Wealth Partners Inc. boosted its holdings in shares of International Business Machines by 1.9% in the fourth quarter. Tower Wealth Partners Inc. now owns 2,376 shares of the technology company’s stock worth $522,000 after buying an additional 45 shares during the period. Institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on IBM shares. Jefferies Financial Group lifted their price target on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. UBS Group upped their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Finally, Wedbush initiated coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines Price Performance

NYSE IBM opened at $243.83 on Monday. The company has a market cap of $226.10 billion, a P/E ratio of 38.04, a P/E/G ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company has a fifty day simple moving average of $249.51 and a 200 day simple moving average of $231.62.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, sell-side analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.74%. International Business Machines’s dividend payout ratio is 104.21%.

International Business Machines Company 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.