Sumitomo Life Insurance Co. Sells 766 Shares of International Business Machines Co. (NYSE:IBM)

Sumitomo Life Insurance Co. decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,787 shares of the technology company’s stock after selling 766 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in International Business Machines were worth $2,418,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Cornerstone Planning Group LLC acquired a new stake in shares of International Business Machines during the 2nd quarter valued at $28,000. Live Oak Investment Partners acquired a new stake in shares of International Business Machines during the 4th quarter valued at $30,000. Briaud Financial Planning Inc acquired a new stake in shares of International Business Machines during the 3rd quarter valued at $31,000. PCA Investment Advisory Services Inc. bought a new position in International Business Machines during the 2nd quarter worth $31,000. Finally, Stone House Investment Management LLC raised its position in International Business Machines by 971.4% during the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 204 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE IBM traded down $3.63 during midday trading on Friday, reaching $182.27. The company’s stock had a trading volume of 3,547,378 shares, compared to its average volume of 3,623,920. International Business Machines Co. has a 12-month low of $120.55 and a 12-month high of $199.18. The firm has a 50 day moving average price of $188.66 and a 200-day moving average price of $167.68. The stock has a market capitalization of $167.09 billion, a P/E ratio of 22.42, a PEG ratio of 3.57 and a beta of 0.70. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 24th. The technology company reported $3.87 earnings per share for the quarter, topping analysts’ consensus estimates of $3.78 by $0.09. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The firm had revenue of $17.38 billion for the quarter, compared to the consensus estimate of $17.29 billion. During the same quarter in the previous year, the business earned $3.60 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts predict that International Business Machines Co. will post 10.07 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were paid a $1.66 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.64 annualized dividend and a yield of 3.64%. International Business Machines’s payout ratio is 81.67%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Jefferies Financial Group started coverage on International Business Machines in a research report on Friday, January 5th. They set a “hold” rating and a $180.00 target price for the company. Evercore raised International Business Machines from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Sanford C. Bernstein boosted their target price on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. BMO Capital Markets boosted their target price on International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Finally, Societe Generale reaffirmed a “sell” rating and issued a $143.00 target price on shares of International Business Machines in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $178.08.

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.