Chevy Chase Trust Holdings LLC Sells 7,223 Shares of International Business Machines Co. (NYSE:IBM)

Chevy Chase Trust Holdings LLC cut its holdings in International Business Machines Co. (NYSE:IBM) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 506,439 shares of the technology company’s stock after selling 7,223 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of International Business Machines worth $111,330,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State Street Corp lifted 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 acquiring an additional 1,200,803 shares in the last quarter. FMR LLC lifted its holdings in shares of International Business Machines by 6.0% during 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 period. Swiss National Bank lifted its holdings in shares of International Business Machines by 0.5% during 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 period. International Assets Investment Management LLC lifted its holdings in shares of International Business Machines by 20,324.5% during 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 period. Finally, Holocene Advisors LP bought a new position in shares of International Business Machines during the 3rd quarter valued at $573,306,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Up 1.3 %

Shares of International Business Machines stock opened at $259.07 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $265.72. The business has a 50-day moving average price of $231.15 and a 200-day moving average price of $218.49. The firm has a market cap of $239.55 billion, a price-to-earnings ratio of 40.42, a PEG ratio of 5.57 and a beta of 0.76.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating 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%. Equities research analysts anticipate that International Business Machines Co. will post 10.75 EPS for the current fiscal year.

International Business Machines Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Oppenheimer began coverage on International Business Machines in a report on Tuesday. They set an “outperform” rating and a $320.00 price target on the stock. Wedbush began coverage on International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. raised their target price on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. BMO Capital Markets raised their target price on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Profile

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.