Essex LLC Trims Holdings in International Business Machines Co. (NYSE:IBM)

Essex LLC lowered its position in International Business Machines Co. (NYSE:IBM) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,723 shares of the technology company’s stock after selling 617 shares during the period. Essex LLC’s holdings in International Business Machines were worth $2,577,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Meeder Asset Management Inc. grew its stake 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 worth $126,000 after purchasing an additional 166 shares during the period. Brady Martz Wealth Solutions LLC purchased a new position in International Business Machines in the fourth quarter valued at $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in shares of International Business Machines in the fourth quarter worth about $373,000. Philip James Wealth Mangement LLC acquired a new stake in shares of International Business Machines during the 3rd quarter valued at about $5,117,000. Finally, Nordea Investment Management AB raised its holdings in International Business Machines by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after purchasing an additional 4,625 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the topic of a number of research analyst reports. Sanford C. Bernstein lifted their price target on shares of 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. JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. UBS Group raised their target price 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. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Finally, Bank of America lifted their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and an average target price of $225.53.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $252.31 on Friday. The business’s fifty day simple moving average is $229.76 and its 200-day simple moving average is $216.92. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The firm has a market cap of $233.30 billion, a PE ratio of 39.36, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $265.72.

International Business Machines (NYSE:IBM) last announced its earnings results 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%. Equities analysts forecast that International Business Machines Co. will post 10.75 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Monday, February 10th. International Business Machines’s payout ratio is 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.