Korea Investment CORP Lowers Position in International Business Machines Co. (NYSE:IBM)

Korea Investment CORP cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 13.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 587,299 shares of the technology company’s stock after selling 92,339 shares during the quarter. Korea Investment CORP’s holdings in International Business Machines were worth $129,106,000 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 the company. United Bank grew its holdings in shares of International Business Machines by 53.3% during the 3rd quarter. United Bank now owns 5,628 shares of the technology company’s stock worth $1,244,000 after purchasing an additional 1,956 shares during the period. Quest Partners LLC grew its stake in International Business Machines by 23,700.0% during the third quarter. Quest Partners LLC now owns 238 shares of the technology company’s stock worth $53,000 after buying an additional 237 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of International Business Machines by 1.0% in the third quarter. The Manufacturers Life Insurance Company now owns 585,188 shares of the technology company’s stock worth $129,373,000 after acquiring an additional 5,540 shares in the last quarter. FMR LLC raised its stake in shares of International Business Machines by 6.0% in the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after acquiring an additional 294,276 shares during the period. Finally, Cadence Bank acquired a new position in shares of International Business Machines during the 3rd quarter valued at $10,653,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares in the company, valued at $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 is available through this hyperlink. Insiders own 0.18% of the company’s stock.

International Business Machines Stock Performance

IBM stock opened at $250.26 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45. The stock’s 50 day simple moving average is $248.65 and its 200 day simple moving average is $230.90. The firm has a market cap of $232.06 billion, a P/E ratio of 39.04, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS 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%. As a group, equities research analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

Wall Street Analyst Weigh In

Several research firms have commented on IBM. Oppenheimer initiated coverage on International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Bank of America increased their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $231.44.

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.