Genesee Capital Advisors LLC Sells 309 Shares of International Business Machines Co. (NYSE:IBM)

Genesee Capital Advisors LLC cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,423 shares of the technology company’s stock after selling 309 shares during the quarter. Genesee Capital Advisors LLC’s holdings in International Business Machines were worth $1,412,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. State Street Corp increased its position in International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after buying an additional 1,200,803 shares in the last quarter. FMR LLC grew its stake in International Business Machines by 6.0% in the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after acquiring an additional 294,276 shares during the period. Swiss National Bank increased its holdings in shares of International Business Machines by 0.5% during the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after acquiring an additional 12,400 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of International Business Machines by 20,324.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after purchasing an additional 2,702,340 shares in the last quarter. Finally, Holocene Advisors LP bought a new position in shares of International Business Machines in the 3rd quarter worth $573,306,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares in the company, 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 SEC, which is available through this hyperlink. 0.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on IBM. BMO Capital Markets upped their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Stifel Nicolaus upped their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on International Business Machines from $227.00 to $233.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Sanford C. Bernstein increased their price objective on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Finally, StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $220.40.

International Business Machines Stock Up 0.5 %

IBM stock opened at $225.34 on Wednesday. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $239.35. The firm has a market capitalization of $208.36 billion, a PE ratio of 32.80, a PEG ratio of 4.78 and a beta of 0.74. 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 50-day simple moving average of $224.65 and a two-hundred day simple moving average of $213.14.

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.