Convergence Investment Partners LLC Has $4.74 Million Stock Position in 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 the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,551 shares of the technology company’s stock after selling 11,273 shares during the period. International Business Machines comprises about 1.1% of Convergence Investment Partners LLC’s portfolio, making the stock its 18th largest position. Convergence Investment Partners LLC’s holdings in International Business Machines were worth $4,737,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in IBM. Compass Financial Services Inc acquired a new stake in shares of International Business Machines in the 4th quarter valued at about $26,000. Hazlett Burt & Watson Inc. lifted its stake in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC bought a new position in shares of International Business Machines during the 3rd quarter worth approximately $29,000. Avondale Wealth Management raised its holdings in shares of International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares during the last quarter. Finally, Valued Wealth Advisors LLC lifted its position in shares of International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after purchasing an additional 90 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IBM. Oppenheimer initiated coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price for the company. 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 report on Thursday, January 30th. Sanford C. Bernstein raised their price target 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. UBS Group upped 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. Finally, StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $231.44.

International Business Machines Stock Up 0.6 %

IBM opened at $262.85 on Wednesday. The stock has a fifty day moving average of $233.32 and a 200-day moving average of $220.66. The company has a market capitalization of $243.04 billion, a P/E ratio of 41.01, a P/E/G ratio of 5.73 and a beta of 0.76. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. 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 (NYSE:IBM) last issued 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 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a 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%.

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.