Clearbridge Investments LLC Cuts Stake in International Business Machines Co. (NYSE:IBM)

Clearbridge Investments LLC lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 14.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,787 shares of the technology company’s stock after selling 5,970 shares during the period. Clearbridge Investments LLC’s holdings in International Business Machines were worth $7,647,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $1,236,176,000. Raymond James Financial Inc. purchased a new position in shares of International Business Machines during the 4th quarter valued at $592,746,000. Vanguard Group Inc. grew its stake in shares of International Business Machines by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock worth $20,189,023,000 after acquiring an additional 1,539,888 shares during the period. State Street Corp increased its holdings in International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after acquiring an additional 1,200,803 shares during the last quarter. Finally, KBC Group NV raised its stake in International Business Machines by 90.4% in the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock valued at $370,909,000 after acquiring an additional 800,930 shares during the period. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the subject of a number of research reports. UBS Group increased their target price on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. JPMorgan Chase & Co. lifted their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, BMO Capital Markets increased their price objective on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $231.13.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction dated 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 in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.18% of the company’s stock.

International Business Machines Trading Down 0.2 %

Shares of IBM stock opened at $249.90 on Thursday. The business has a 50-day moving average price of $251.05 and a two-hundred day moving average price of $232.26. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The firm has a market cap of $231.72 billion, a P/E ratio of 38.99, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping 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%. Equities analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

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.