Atlanta Consulting Group Advisors LLC Reduces Position in International Business Machines Co. (NYSE:IBM)

Atlanta Consulting Group Advisors LLC lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.9% during the 4th quarter, HoldingsChannel reports. The fund owned 1,636 shares of the technology company’s stock after selling 67 shares during the quarter. Atlanta Consulting Group Advisors LLC’s holdings in International Business Machines were worth $360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of IBM. Raymond James Financial Inc. purchased a new position in shares of International Business Machines during the 4th quarter worth $592,746,000. Holocene Advisors LP bought a new stake in shares of International Business Machines during the 3rd quarter valued at $573,306,000. State Street Corp raised its position in shares of International Business Machines by 2.2% during 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 purchasing an additional 1,200,803 shares during the period. KBC Group NV raised its position in shares of International Business Machines by 90.4% during the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock valued at $370,909,000 after purchasing an additional 800,930 shares during the period. Finally, Strategic Financial Concepts LLC raised its position in shares of International Business Machines by 23,311.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock valued at $153,262,000 after purchasing an additional 694,204 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Bank of America raised their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. BMO Capital Markets raised their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research report on Monday, January 27th. Sanford C. Bernstein lifted their price target on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Finally, Oppenheimer began coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $231.44.

International Business Machines Stock Performance

International Business Machines stock opened at $248.15 on Monday. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $266.45. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The company’s 50-day moving average price is $244.23 and its 200-day moving average price is $228.47. The company has a market cap of $230.10 billion, a PE ratio of 38.71, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, equities research analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.69%. International Business Machines’s dividend payout ratio is presently 104.21%.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by corporate insiders.

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.