Cohen Klingenstein LLC Sells 2,548 Shares of International Business Machines Co. (NYSE:IBM)

Cohen Klingenstein LLC lowered its position in International Business Machines Co. (NYSE:IBM) by 7.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,167 shares of the technology company’s stock after selling 2,548 shares during the period. Cohen Klingenstein LLC’s holdings in International Business Machines were worth $6,851,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. lifted its position in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC acquired a new stake in International Business Machines during the third quarter worth approximately $29,000. Avondale Wealth Management increased its position in International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares during the period. Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines in the 2nd quarter worth about $36,000. Finally, Modus Advisors LLC bought a new stake in shares of International Business Machines during the 4th quarter valued at $40,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

NYSE:IBM opened at $224.73 on Friday. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $239.35. The business’s fifty day moving average is $222.65 and its 200 day moving average is $210.31. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm has a market cap of $207.80 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 4.71 and a beta of 0.74.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. The business 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 business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.20 EPS. Research analysts predict that International Business Machines Co. will post 10.16 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders 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 annualized dividend and a dividend yield of 2.97%. International Business Machines’s payout ratio is currently 97.23%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on IBM shares. Jefferies Financial Group upped their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research report on Wednesday, October 2nd. BMO Capital Markets upped their price target on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. Finally, Stifel Nicolaus increased their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $215.81.

Insider Activity at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% 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.