International Business Machines Co. (NYSE:IBM) Shares Sold by Snowden Capital Advisors LLC

Snowden Capital Advisors LLC lowered its stake in International Business Machines Co. (NYSE:IBM) by 26.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,701 shares of the technology company’s stock after selling 14,068 shares during the quarter. Snowden Capital Advisors LLC’s holdings in International Business Machines were worth $8,728,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of IBM. SGL Investment Advisors Inc. grew its position in International Business Machines by 12.7% in the fourth quarter. SGL Investment Advisors Inc. now owns 24,457 shares of the technology company’s stock valued at $5,376,000 after acquiring an additional 2,758 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in shares of International Business Machines by 0.4% in the fourth quarter. Rafferty Asset Management LLC now owns 319,163 shares of the technology company’s stock valued at $70,162,000 after purchasing an additional 1,332 shares during the period. Raiffeisen Bank International AG acquired a new stake in International Business Machines during the 4th quarter valued at $19,534,000. Quadcap Wealth Management LLC increased its stake in International Business Machines by 19.5% during the 4th quarter. Quadcap Wealth Management LLC now owns 3,903 shares of the technology company’s stock worth $858,000 after buying an additional 637 shares during the period. Finally, Quantinno Capital Management LP increased its stake in International Business Machines by 52.8% during the 4th quarter. Quantinno Capital Management LP now owns 51,152 shares of the technology company’s stock worth $11,245,000 after buying an additional 17,684 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Up 3.4%

IBM stock opened at $266.55 on Friday. The stock has a market cap of $247.73 billion, a PE ratio of 41.58, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. The firm’s 50-day simple moving average is $243.38 and its 200 day simple moving average is $235.88. International Business Machines Co. has a fifty-two week low of $163.53 and a fifty-two week high of $268.08. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the previous year, the firm posted $1.68 earnings per share. The business’s revenue was up .5% on a year-over-year basis. As a group, sell-side analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.52%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is 115.66%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IBM shares. UBS Group reaffirmed a “sell” rating and set a $170.00 target price (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Citigroup restated an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. Bank of America increased their target price on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Morgan Stanley dropped their price target on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.06.

Insider Buying and Selling

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 shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

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.