Lifestyle Asset Management Inc. Reduces Stock Holdings in International Business Machines Co. (NYSE:IBM)

Lifestyle Asset Management Inc. trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 4.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,098 shares of the technology company’s stock after selling 108 shares during the period. Lifestyle Asset Management Inc.’s holdings in International Business Machines were worth $461,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IBM. International Assets Investment Management LLC grew its stake in 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 worth $600,373,000 after buying an additional 2,702,340 shares during the last quarter. Holocene Advisors LP purchased a new position in International Business Machines during the 3rd quarter worth $573,306,000. State Street Corp grew its stake in 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 worth $12,307,940,000 after buying an additional 1,200,803 shares during the last quarter. Eagle Asset Management Inc. grew its stake in International Business Machines by 587.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock valued at $134,262,000 after purchasing an additional 536,785 shares during the last quarter. Finally, KBC Group NV grew its stake in International Business Machines by 103.1% during the 3rd quarter. KBC Group NV now owns 886,323 shares of the technology company’s stock valued at $195,948,000 after purchasing an additional 449,912 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by corporate insiders.

International Business Machines Stock Up 1.1 %

Shares of NYSE IBM opened at $225.63 on Friday. The firm has a market cap of $208.63 billion, a price-to-earnings ratio of 32.84, a price-to-earnings-growth ratio of 4.80 and a beta of 0.74. The company’s 50-day simple moving average is $223.60 and its 200-day simple moving average is $211.90. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $239.35.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.20 EPS. Equities analysts predict that International Business Machines Co. will post 10.16 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. Shareholders of record on Tuesday, November 12th were issued a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.96%. International Business Machines’s payout ratio is currently 97.23%.

Wall Street Analyst Weigh In

Several research firms have weighed in on IBM. Jefferies Financial Group boosted their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. boosted their price target on International Business Machines from $227.00 to $233.00 and gave the company a “neutral” rating in a research note on Thursday. Bernstein Bank boosted their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group lifted their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $220.73.

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.