Renaissance Group LLC Reduces Stock Position in International Business Machines Co. (NYSE:IBM)

Renaissance Group LLC trimmed its position in shares of International Business Machines Co. (NYSE:IBM) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,774 shares of the technology company’s stock after selling 67 shares during the period. Renaissance Group LLC’s holdings in International Business Machines were worth $390,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of IBM. Vanguard Group Inc. lifted its holdings in International Business Machines by 1.7% in the 4th 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 period. Geode Capital Management LLC raised its holdings in shares of International Business Machines by 2.1% during 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 acquiring an additional 427,499 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in International Business Machines by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company’s stock worth $1,465,223,000 after acquiring an additional 126,547 shares during the period. Norges Bank bought a new stake in International Business Machines in the fourth quarter valued at $1,236,176,000. Finally, Invesco Ltd. increased its position in International Business Machines by 5.1% during the 4th quarter. Invesco Ltd. now owns 4,036,860 shares of the technology company’s stock valued at $887,423,000 after purchasing an additional 194,814 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Down 2.5 %

IBM stock opened at $220.07 on Wednesday. The stock has a market capitalization of $204.06 billion, a P/E ratio of 34.33, a P/E/G ratio of 5.81 and a beta of 0.67. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $266.45. The business has a fifty day moving average price of $251.20 and a 200-day moving average price of $232.67.

International Business Machines (NYSE:IBM) last issued 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 return on equity of 38.99% and a net margin of 9.60%. Equities analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced 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 yield of 3.04%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Wall Street Analyst Weigh In

IBM has been the topic of several research analyst reports. Sanford C. Bernstein boosted 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 research report on Friday, January 3rd. Bank of America increased their target price on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Morgan Stanley increased their price objective on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $231.13.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is currently owned by 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.