Klingenstein Fields & Co. LP Has $3.20 Million Stake in International Business Machines Co. (NYSE:IBM)

Klingenstein Fields & Co. LP trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,548 shares of the technology company’s stock after selling 207 shares during the period. Klingenstein Fields & Co. LP’s holdings in International Business Machines were worth $3,198,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IBM. State Street Corp boosted 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 during the last quarter. FMR LLC boosted its position in International Business Machines by 6.0% in the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after buying an additional 294,276 shares during the last quarter. Swiss National Bank boosted its position in International Business Machines by 0.5% in the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after buying an additional 12,400 shares during the last quarter. International Assets Investment Management LLC boosted its position in 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 valued at $600,373,000 after buying an additional 2,702,340 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in International Business Machines in the 3rd quarter valued at $573,306,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

IBM opened at $259.07 on Friday. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $265.72. The firm has a market capitalization of $239.55 billion, a PE ratio of 40.42, a PEG ratio of 5.57 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The business’s 50-day simple moving average is $231.15 and its 200 day simple moving average is $218.49.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, sell-side analysts expect that International Business Machines Co. will post 10.75 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a $1.67 dividend. The ex-dividend date is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.58%. International Business Machines’s dividend payout ratio is 104.21%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IBM. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Wedbush started coverage on International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating on the stock. UBS Group raised their price target on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Sanford C. Bernstein raised their price target on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Finally, Bank of America raised their price target on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $231.44.

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.