International Business Machines Co. (NYSE:IBM) Stock Holdings Cut by Cullinan Associates Inc.

Cullinan Associates Inc. trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 10.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 122,755 shares of the technology company’s stock after selling 13,628 shares during the period. International Business Machines comprises approximately 1.7% of Cullinan Associates Inc.’s investment portfolio, making the stock its 12th biggest position. Cullinan Associates Inc.’s holdings in International Business Machines were worth $26,985,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp grew its stake 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 valued at $12,307,940,000 after buying an additional 1,200,803 shares during the last quarter. FMR LLC raised its stake in shares of International Business Machines by 6.0% in the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after purchasing an additional 294,276 shares in the last quarter. Swiss National Bank lifted its holdings in shares of International Business Machines by 0.5% during the 3rd 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 during the period. International Assets Investment Management LLC boosted its holdings in International Business Machines by 20,324.5% during the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after purchasing an additional 2,702,340 shares in the last quarter. Finally, Holocene Advisors LP bought a new stake in International Business Machines in the third quarter valued at $573,306,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

IBM stock opened at $260.84 on Tuesday. The company has a market cap of $241.19 billion, a P/E ratio of 40.69, a price-to-earnings-growth ratio of 5.63 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The stock’s fifty day moving average price is $226.61 and its 200-day moving average price is $214.76. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $262.06.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates 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 forecast that International Business Machines Co. will post 10.73 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.56%. International Business Machines’s dividend payout ratio is 104.21%.

Analyst Ratings Changes

IBM has been the topic of a number of recent analyst reports. Sanford C. Bernstein boosted their price objective on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Jefferies Financial Group boosted their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. UBS Group increased their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. Morgan Stanley upped their price target on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, Wedbush started coverage on International Business Machines in a report on Monday. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and an average target price of $225.53.

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.07% of the company’s stock.

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.