Coastal Bridge Advisors LLC Has $1.25 Million Stake in International Business Machines Co. (NYSE:IBM)

Coastal Bridge Advisors LLC reduced its holdings in International Business Machines Co. (NYSE:IBM) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,665 shares of the technology company’s stock after selling 85 shares during the period. Coastal Bridge Advisors LLC’s holdings in International Business Machines were worth $1,245,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in International Business Machines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock worth $20,189,023,000 after buying an additional 1,539,888 shares during the last quarter. Geode Capital Management LLC increased its stake in International Business Machines by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock valued at $4,589,145,000 after purchasing an additional 427,499 shares in the last quarter. Capital World Investors boosted its position in shares of International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Northern Trust Corp grew its holdings in shares of International Business Machines by 18.6% in the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after buying an additional 1,704,209 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of International Business Machines by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company’s stock valued at $1,465,223,000 after buying an additional 126,547 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

International Business Machines Stock Up 1.8 %

IBM opened at $253.48 on Thursday. The stock has a fifty day moving average of $243.00 and a 200-day moving average of $234.51. International Business Machines Co. has a fifty-two week low of $163.53 and a fifty-two week high of $266.45. The company has a market capitalization of $235.58 billion, a P/E ratio of 39.54, a P/E/G ratio of 5.81 and a beta of 0.64. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the prior year, the company posted $1.68 EPS. The company’s revenue was up .5% compared to the same quarter last year. On average, equities analysts expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.65%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is 115.66%.

Wall Street Analyst Weigh In

IBM has been the subject of several recent analyst reports. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $276.00 price target on shares of International Business Machines in a research note on Monday, April 14th. Wedbush restated an “outperform” rating and set a $300.00 price objective on shares of International Business Machines in a report on Wednesday. Oppenheimer started coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $248.50.

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.