Gabelli Funds LLC lowered its stake in International Business Machines Corp. (NYSE:IBM) by 13.9% during the 4th quarter, HoldingsChannel reports. The firm owned 68,000 shares of the technology company’s stock after selling 11,000 shares during the quarter. Gabelli Funds LLC’s holdings in International Business Machines were worth $10,433,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of International Business Machines by 3.7% during the 2nd quarter. Vanguard Group Inc. now owns 62,228,040 shares of the technology company’s stock valued at $9,572,538,000 after buying an additional 2,241,818 shares in the last quarter. BlackRock Inc. raised its position in shares of International Business Machines by 2.4% during the 2nd quarter. BlackRock Inc. now owns 52,936,360 shares of the technology company’s stock valued at $8,143,204,000 after buying an additional 1,241,441 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of International Business Machines by 4.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,242,553 shares of the technology company’s stock valued at $763,790,000 after buying an additional 216,212 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of International Business Machines by 4.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 5,053,040 shares of the technology company’s stock valued at $775,238,000 after buying an additional 226,538 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of International Business Machines by 2.5% during the 3rd quarter. Legal & General Group Plc now owns 4,929,973 shares of the technology company’s stock valued at $715,252,000 after buying an additional 119,747 shares in the last quarter. Institutional investors and hedge funds own 56.99% of the company’s stock.

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International Business Machines stock opened at $156.69 on Thursday. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.33 and a quick ratio of 1.29. The company has a market cap of $143,886.42, a PE ratio of 11.29, a price-to-earnings-growth ratio of 2.29 and a beta of 0.94. International Business Machines Corp. has a one year low of $139.13 and a one year high of $176.33.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Thursday, January 18th. The technology company reported $5.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.17 by $0.01. International Business Machines had a net margin of 7.27% and a return on equity of 69.48%. The firm had revenue of $22.54 billion for the quarter, compared to the consensus estimate of $22.03 billion. During the same period last year, the firm earned $5.01 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. sell-side analysts anticipate that International Business Machines Corp. will post 13.8 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Friday, February 9th were paid a dividend of $1.50 per share. The ex-dividend date was Thursday, February 8th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.83%. International Business Machines’s dividend payout ratio is presently 98.20%.

In other news, insider Erich Clementi sold 13,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $154.66, for a total transaction of $2,010,580.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frederick H. Waddell acquired 610 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were acquired at an average price of $163.38 per share, for a total transaction of $99,661.80. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

IBM has been the topic of several recent research reports. Zacks Investment Research cut shares of International Business Machines from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. Societe Generale set a $149.00 price objective on shares of International Business Machines and gave the stock a “sell” rating in a research report on Friday, January 19th. Vetr lowered shares of International Business Machines from a “strong-buy” rating to a “buy” rating and set a $173.45 price objective on the stock. in a research report on Tuesday, December 12th. Cantor Fitzgerald reissued a “hold” rating and issued a $152.00 price objective on shares of International Business Machines in a research report on Friday, January 19th. Finally, Morgan Stanley increased their price objective on shares of International Business Machines to $198.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. Six equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company. International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $166.01.

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About International Business Machines

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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