Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Reduces Stock Holdings in International Business Machines Co. (NYSE:IBM)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its position in International Business Machines Co. (NYSE:IBM) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,083 shares of the technology company’s stock after selling 93 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in International Business Machines were worth $1,976,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in IBM. International Assets Investment Management LLC raised its holdings in International Business Machines by 15,439.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock worth $433,974,000 after purchasing an additional 2,636,386 shares in the last quarter. Morgan Stanley raised its holdings in International Business Machines by 13.4% in the third quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after purchasing an additional 1,919,490 shares in the last quarter. California Public Employees Retirement System raised its holdings in International Business Machines by 15.9% in the third quarter. California Public Employees Retirement System now owns 6,345,842 shares of the technology company’s stock worth $890,322,000 after purchasing an additional 871,247 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of International Business Machines by 10.2% during the third quarter. Bank of New York Mellon Corp now owns 8,691,369 shares of the technology company’s stock valued at $1,219,399,000 after acquiring an additional 807,357 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of International Business Machines by 4.2% during the third quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock valued at $1,398,886,000 after acquiring an additional 404,948 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on IBM shares. UBS Group raised their price target on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a report on Monday. Evercore raised International Business Machines from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Stifel Nicolaus reissued a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a research report on Wednesday, April 17th. Bank of America raised their target price on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Finally, BMO Capital Markets raised their target price on International Business Machines from $155.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $177.23.

International Business Machines Price Performance

NYSE:IBM traded up $2.37 during trading hours on Tuesday, reaching $184.27. The stock had a trading volume of 1,533,631 shares, compared to its average volume of 4,716,106. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.93 and a current ratio of 0.96. International Business Machines Co. has a 52 week low of $120.55 and a 52 week high of $199.18. The company has a 50 day moving average price of $188.38 and a two-hundred day moving average price of $169.59. The stock has a market capitalization of $168.93 billion, a PE ratio of 22.64, a PEG ratio of 3.57 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 earnings per share (EPS) 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 business 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 company posted $3.60 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.04 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were given a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio is currently 81.67%.

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.