International Business Machines Co. (NYSE:IBM) Shares Sold by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 28,403 shares of the technology company’s stock after selling 219 shares during the period. Tocqueville Asset Management L.P.’s holdings in International Business Machines were worth $6,244,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in IBM. Flagship Wealth Advisors LLC acquired a new position in International Business Machines during the fourth quarter worth $497,000. Kimelman & Baird LLC boosted its holdings in International Business Machines by 0.3% during the 4th quarter. Kimelman & Baird LLC now owns 103,586 shares of the technology company’s stock valued at $22,771,000 after acquiring an additional 282 shares during the period. Cassady Schiller Wealth Management LLC grew its position in International Business Machines by 7.5% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 674 shares of the technology company’s stock valued at $148,000 after acquiring an additional 47 shares in the last quarter. Signaturefd LLC lifted its position in shares of International Business Machines by 18.0% during the fourth quarter. Signaturefd LLC now owns 23,050 shares of the technology company’s stock worth $5,067,000 after purchasing an additional 3,524 shares in the last quarter. Finally, Cibc World Markets Corp grew its holdings in shares of International Business Machines by 6.5% in the fourth quarter. Cibc World Markets Corp now owns 287,158 shares of the technology company’s stock valued at $63,126,000 after purchasing an additional 17,648 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

NYSE IBM opened at $246.80 on Wednesday. The company has a fifty day moving average of $245.29 and a two-hundred day moving average of $229.16. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. The company has a market capitalization of $228.85 billion, a PE ratio of 38.50, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on IBM. Morgan Stanley raised their price target on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Bank of America lifted their target price on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Oppenheimer began coverage on International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target on the stock. Wedbush initiated coverage on International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating for the company. Finally, Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus price target of $231.44.

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.