Lucas Capital Management trimmed its position in International Business Machines Corp. (NYSE:IBM) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,809 shares of the technology company’s stock after selling 544 shares during the period. Lucas Capital Management’s holdings in International Business Machines were worth $1,198,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of International Business Machines by 3.7% in the second quarter. Vanguard Group Inc. now owns 62,228,040 shares of the technology company’s stock valued at $9,572,538,000 after purchasing an additional 2,241,818 shares in the last quarter. BlackRock Inc. raised its holdings in International Business Machines by 2.4% during the second quarter. BlackRock Inc. now owns 52,936,360 shares of the technology company’s stock worth $8,143,204,000 after acquiring an additional 1,241,441 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in International Business Machines by 4.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,242,553 shares of the technology company’s stock worth $763,790,000 after acquiring an additional 216,212 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in International Business Machines by 4.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 5,053,040 shares of the technology company’s stock worth $775,238,000 after acquiring an additional 226,538 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in International Business Machines by 2.5% during the third quarter. Legal & General Group Plc now owns 4,929,973 shares of the technology company’s stock worth $715,252,000 after acquiring an additional 119,747 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.
International Business Machines Corp. (IBM) opened at $159.32 on Wednesday. International Business Machines Corp. has a 12-month low of $139.13 and a 12-month high of $179.00. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.33 and a quick ratio of 1.29. The company has a market capitalization of $147,626.36, a P/E ratio of 11.59, a PEG ratio of 2.34 and a beta of 0.94.
The company also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Friday, February 9th were given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 3.77%. The ex-dividend date was Thursday, February 8th. International Business Machines’s payout ratio is 98.20%.
IBM has been the topic of several analyst reports. Tigress Financial reiterated a “buy” rating on shares of International Business Machines in a report on Friday, December 1st. Vetr lowered International Business Machines from a “strong-buy” rating to a “buy” rating and set a $173.45 target price on the stock. in a report on Tuesday, December 12th. Pivotal Research set a $180.00 target price on International Business Machines and gave the stock a “buy” rating in a report on Thursday, January 18th. Bank of America reiterated a “buy” rating and set a $200.00 target price on shares of International Business Machines in a report on Friday, January 19th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $180.00 target price on shares of International Business Machines in a report on Friday, January 19th. Six investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $166.01.
In related news, Director Frederick H. Waddell purchased 610 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was acquired at an average cost of $163.38 per share, for a total transaction of $99,661.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Erich Clementi sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $154.66, for a total value of $2,010,580.00. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.
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About International Business Machines
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
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