Cacti Asset Management LLC Cuts Stake in International Business Machines Co. (NYSE:IBM)

Cacti Asset Management LLC trimmed its holdings in International Business Machines Co. (NYSE:IBM) by 6.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 14,600 shares of the technology company’s stock after selling 1,000 shares during the quarter. Cacti Asset Management LLC’s holdings in International Business Machines were worth $3,216,000 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. Meeder Asset Management Inc. lifted its position in shares of International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after buying an additional 166 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in International Business Machines in the 2nd quarter worth $7,160,000. Philip James Wealth Mangement LLC bought a new position in shares of International Business Machines during the 3rd quarter valued at about $5,117,000. Lord Abbett & CO. LLC purchased a new position in shares of International Business Machines during the third quarter valued at about $24,761,000. Finally, Aljian Capital Management LLC purchased a new stake in shares of International Business Machines in the third quarter worth about $611,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

IBM has been the topic of several recent research reports. Jefferies Financial Group upped their price objective on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Stifel Nicolaus upped their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets lifted their target price on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. UBS Group boosted their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Finally, DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $208.94.

International Business Machines Price Performance

IBM stock traded up $0.06 during trading on Thursday, hitting $219.89. The stock had a trading volume of 643,742 shares, compared to its average volume of 4,209,730. The company’s 50-day moving average price is $220.34 and its two-hundred day moving average price is $206.80. International Business Machines Co. has a twelve month low of $157.88 and a twelve month high of $239.35. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The stock has a market capitalization of $203.32 billion, a P/E ratio of 32.01, a PEG ratio of 5.18 and a beta of 0.73.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the prior year, the firm earned $2.20 EPS. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, research analysts predict that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

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.