Intact Investment Management Inc. Lowers Stock Holdings in International Business Machines Co. (NYSE:IBM)

Intact Investment Management Inc. trimmed its position in International Business Machines Co. (NYSE:IBM) by 29.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 32,700 shares of the technology company’s stock after selling 13,900 shares during the period. Intact Investment Management Inc.’s holdings in International Business Machines were worth $7,188,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. JBR Co Financial Management Inc raised its stake in International Business Machines by 0.6% in the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock valued at $1,405,000 after purchasing an additional 40 shares in the last quarter. Schechter Investment Advisors LLC raised its stake in International Business Machines by 0.7% in the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock valued at $1,396,000 after purchasing an additional 43 shares in the last quarter. Callan Capital LLC raised its stake in International Business Machines by 2.4% in the fourth quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock valued at $411,000 after purchasing an additional 44 shares in the last quarter. Marks Group Wealth Management Inc raised its stake in International Business Machines by 0.4% in the fourth quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock valued at $2,292,000 after purchasing an additional 45 shares in the last quarter. Finally, Tower Wealth Partners Inc. raised its stake in International Business Machines by 1.9% in the fourth quarter. Tower Wealth Partners Inc. now owns 2,376 shares of the technology company’s stock valued at $522,000 after purchasing an additional 45 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IBM. JPMorgan Chase & Co. raised their target price on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Jefferies Financial Group boosted their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. BMO Capital Markets upped their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. Finally, Wedbush assumed coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Performance

International Business Machines stock opened at $245.67 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The firm has a 50-day moving average of $243.72 and a 200-day moving average of $227.70. The firm has a market cap of $227.80 billion, a P/E ratio of 38.33, a P/E/G ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $266.45.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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 38.99%. Sell-side analysts expect 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 paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s payout ratio is currently 104.21%.

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.