Dakota Wealth Management Sells 23,936 Shares of International Business Machines Co. (NYSE:IBM)

Dakota Wealth Management reduced its position in International Business Machines Co. (NYSE:IBM) by 34.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,071 shares of the technology company’s stock after selling 23,936 shares during the quarter. Dakota Wealth Management’s holdings in International Business Machines were worth $10,128,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. State Street Corp boosted its stake in shares of 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 valued at $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of International Business Machines by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after purchasing an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after purchasing an additional 444,698 shares during the last quarter. FMR LLC boosted its stake in International Business Machines by 6.0% during the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after acquiring an additional 294,276 shares in the last quarter. Finally, Swiss National Bank boosted its stake in International Business Machines by 0.5% during the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock worth $602,819,000 after acquiring an additional 12,400 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. 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 note on Tuesday, January 14th. Bernstein Bank increased their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group increased their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Jefferies Financial Group increased their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Finally, Morgan Stanley upped their price objective on shares of International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $216.87.

International Business Machines Stock Down 0.2 %

IBM opened at $224.30 on Wednesday. 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 company’s 50-day moving average is $223.09 and its 200 day moving average is $211.48. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $239.35. The firm has a market capitalization of $207.40 billion, a P/E ratio of 32.65, a PEG ratio of 4.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share 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 for the quarter, compared to analyst estimates of $15.08 billion. During the same period last year, the firm earned $2.20 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis. Research analysts expect that International Business Machines Co. will post 10.16 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors 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 2.98%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s payout ratio is currently 97.23%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value 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. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.07% of the stock is owned by insiders.

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.