International Business Machines Co. (NYSE:IBM) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 263,917 shares of the technology company’s stock after selling 974 shares during the period. International Business Machines makes up approximately 1.1% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 15th biggest holding. Kornitzer Capital Management Inc. KS’s holdings in International Business Machines were worth $58,017,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IBM. Compass Financial Services Inc purchased a new position in shares of International Business Machines in the fourth quarter valued at $26,000. Hazlett Burt & Watson Inc. lifted its holdings 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 worth $29,000 after buying an additional 116 shares in the last quarter. Hara Capital LLC purchased a new position in International Business Machines in the 3rd quarter valued at about $29,000. Avondale Wealth Management grew its stake in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares in the last quarter. Finally, Valued Wealth Advisors LLC increased its position in shares of International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after acquiring an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $260.65 on Tuesday. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $265.72. The firm has a market capitalization of $241.01 billion, a PE ratio of 40.66, a P/E/G ratio of 5.57 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 business’s fifty day moving average price is $232.08 and its two-hundred day moving average price is $219.64.

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, beating 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, research analysts expect that International Business Machines Co. will post 10.75 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a dividend of $1.67 per share. The ex-dividend date 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 presently 104.21%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Oppenheimer assumed coverage on International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target for the company. Jefferies Financial Group raised their price target 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. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Bank of America boosted 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 report on Thursday, January 30th. Finally, Wedbush started coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $231.44.

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.