Ridgewood Investments LLC Sells 1,177 Shares of International Business Machines Co. (NYSE:IBM)

Ridgewood Investments LLC cut its holdings in International Business Machines Co. (NYSE:IBM) by 20.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,673 shares of the technology company’s stock after selling 1,177 shares during the period. Ridgewood Investments LLC’s holdings in International Business Machines were worth $1,027,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in IBM. State Street Corp boosted its stake in shares of International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the period. Legal & General Group Plc boosted its stake in shares of International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after purchasing an additional 330,694 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after purchasing an additional 444,698 shares during the period. FMR LLC boosted its stake in shares of International Business Machines by 6.0% during the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after purchasing an additional 294,276 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of International Business Machines by 6.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after purchasing an additional 304,390 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IBM has been the subject of a number of recent analyst reports. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research note on Wednesday, October 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Bernstein Bank boosted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Finally, Stifel Nicolaus upped their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $214.88.

International Business Machines Stock Down 2.2 %

Shares of NYSE IBM traded down $4.86 during trading hours on Friday, hitting $218.32. 824,733 shares of the stock were exchanged, compared to its average volume of 2,660,463. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The company has a market cap of $201.87 billion, a PE ratio of 31.78, a PEG ratio of 5.18 and a beta of 0.74. The firm has a fifty day moving average price of $221.70 and a 200-day moving average price of $208.69. International Business Machines Co. has a 12 month low of $160.29 and a 12 month high of $239.35.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (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 business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the prior year, the business posted $2.20 EPS. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, sell-side analysts expect that International Business Machines Co. will post 10.12 EPS for the current 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 paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.06%. International Business Machines’s payout ratio is 97.23%.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction on 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 directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is currently owned by company insiders.

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.