InTrack Investment Management Inc Decreases Stake in International Business Machines Co. (NYSE:IBM)

InTrack Investment Management Inc lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 8.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,978 shares of the technology company’s stock after selling 348 shares during the period. InTrack Investment Management Inc’s holdings in International Business Machines were worth $866,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its position in shares of International Business Machines by 13.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 77,189 shares of the technology company’s stock valued at $13,350,000 after acquiring an additional 9,155 shares during the period. Seven Eight Capital LP acquired a new position in shares of International Business Machines in the second quarter valued at about $1,305,000. ProVise Management Group LLC raised its stake in shares of International Business Machines by 2.3% in the second quarter. ProVise Management Group LLC now owns 3,305 shares of the technology company’s stock worth $572,000 after purchasing an additional 74 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of International Business Machines by 66.6% during the second quarter. Intech Investment Management LLC now owns 318,035 shares of the technology company’s stock worth $55,004,000 after purchasing an additional 127,147 shares during the period. Finally, Brighton Jones LLC boosted its position in International Business Machines by 1.5% in the second quarter. Brighton Jones LLC now owns 17,766 shares of the technology company’s stock valued at $3,073,000 after buying an additional 260 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on IBM shares. UBS Group lifted their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday. Sanford C. Bernstein upped 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 report on Friday, January 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. Bernstein Bank boosted their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Finally, DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $215.81.

International Business Machines Stock Performance

IBM opened at $224.73 on Friday. The firm’s fifty day simple moving average is $222.65 and its two-hundred day simple moving average is $210.31. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $239.35. The company has a market cap of $207.80 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 4.71 and a beta of 0.74. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period last year, the company posted $2.20 EPS. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities analysts anticipate that International Business Machines Co. will post 10.16 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were issued a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.97%. International Business Machines’s payout ratio is currently 97.23%.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.07% of the stock is currently owned by corporate insiders.

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.