Cibc World Market Inc. Has $92.44 Million Holdings in International Business Machines Co. (NYSE:IBM)

Cibc World Market Inc. lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 420,525 shares of the technology company’s stock after selling 11,157 shares during the period. Cibc World Market Inc.’s holdings in International Business Machines were worth $92,444,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Hazlett Burt & Watson Inc. lifted its holdings in shares of International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares during the period. Hara Capital LLC acquired a new position in International Business Machines in the third quarter valued at $29,000. Avondale Wealth Management lifted its holdings in International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after buying an additional 56 shares during the period. Valued Wealth Advisors LLC lifted its holdings in International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after buying an additional 90 shares during the period. Finally, Modus Advisors LLC acquired a new position in International Business Machines in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, 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 available at the SEC website. 0.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IBM shares. JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday. Bank of America boosted their target price on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday. Jefferies Financial Group upped their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday. Sanford C. Bernstein upped their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Monday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $225.53.

International Business Machines Trading Up 12.9 %

NYSE:IBM opened at $258.22 on Friday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm has a 50-day moving average of $225.24 and a 200-day moving average of $213.55. The company has a market cap of $238.76 billion, a PE ratio of 40.28, a PEG ratio of 4.25 and a beta of 0.74. International Business Machines Co. has a one year low of $162.62 and a one year high of $261.80.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data 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 net margin of 9.60% and a return on equity of 40.37%. As a group, equities research analysts expect that International Business Machines Co. will post 10.54 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed 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 2.59%. The ex-dividend date is Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

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.