Meyer Handelman Co. Decreases Stock Position in International Business Machines Co. (NYSE:IBM)

Meyer Handelman Co. decreased its stake in International Business Machines Co. (NYSE:IBM) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 352,193 shares of the technology company’s stock after selling 1,493 shares during the period. International Business Machines comprises about 2.7% of Meyer Handelman Co.’s investment portfolio, making the stock its 6th biggest position. Meyer Handelman Co.’s holdings in International Business Machines were worth $77,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in IBM. Brown Brothers Harriman & Co. boosted its stake in shares of International Business Machines by 12.2% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 43,394 shares of the technology company’s stock valued at $7,505,000 after purchasing an additional 4,705 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of International Business Machines by 13.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 77,189 shares of the technology company’s stock valued at $13,350,000 after purchasing an additional 9,155 shares in the last quarter. Mesirow Financial Investment Management Inc. boosted its stake in shares of International Business Machines by 4.0% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 24,331 shares of the technology company’s stock valued at $4,210,000 after purchasing an additional 931 shares in the last quarter. One Capital Management LLC boosted its position in International Business Machines by 44.7% during the 2nd quarter. One Capital Management LLC now owns 2,905 shares of the technology company’s stock valued at $502,000 after buying an additional 898 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its position in International Business Machines by 12.5% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 14,513 shares of the technology company’s stock valued at $2,510,000 after buying an additional 1,612 shares during the period. Institutional investors own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on IBM. UBS Group increased their price target on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday. Sanford C. Bernstein increased 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 research report on Friday, January 3rd. Bank of America raised their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Stifel Nicolaus boosted their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group upped their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $215.81.

International Business Machines Stock Up 0.1 %

NYSE:IBM opened at $217.54 on Wednesday. The firm’s 50-day moving average price is $222.34 and its 200-day moving average price is $210.16. The company has a market capitalization of $201.15 billion, a PE ratio of 31.67, a P/E/G ratio of 5.18 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $239.35.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 EPS. On average, equities analysts predict that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

International Business Machines Company 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.