International Business Machines Co. (NYSE:IBM) Shares Sold by Cacti Asset Management LLC

Cacti Asset Management LLC decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 6.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,600 shares of the technology company’s stock after selling 1,000 shares during the quarter. Cacti Asset Management LLC’s holdings in International Business Machines were worth $3,216,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in IBM. Hazlett Burt & Watson Inc. grew its holdings in shares of International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares during the last quarter. Hara Capital LLC acquired a new position in shares of International Business Machines in the 3rd quarter valued at $29,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in International Business Machines during the 2nd quarter valued at approximately $36,000. Capital Performance Advisors LLP acquired a new position in shares of International Business Machines in the third quarter valued at approximately $43,000. Finally, Mowery & Schoenfeld Wealth Management LLC grew its position in International Business Machines by 47.2% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 240 shares of the technology company’s stock valued at $53,000 after buying an additional 77 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by insiders.

International Business Machines Stock Performance

NYSE:IBM traded up $0.06 during trading hours on Thursday, reaching $219.89. 643,742 shares of the stock were exchanged, compared to its average volume of 4,209,730. International Business Machines Co. has a 52 week low of $157.88 and a 52 week high of $239.35. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The stock has a market capitalization of $203.32 billion, a P/E ratio of 32.01, a P/E/G ratio of 5.18 and a beta of 0.73. The firm has a 50 day simple moving average of $220.34 and a 200-day simple moving average of $206.80.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.20 earnings per share. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.04%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Analysts Set New Price Targets

IBM has been the topic of several analyst reports. Bank of America lifted their target price on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group boosted their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a report on Wednesday, October 2nd. Jefferies Financial Group upped their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, Evercore ISI raised their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $208.94.

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.