Elo Mutual Pension Insurance Co. Lowers Holdings in International Business Machines Co. (IBM)
According to a recent filing with the Securities & Exchange Commission, Elo Mutual Pension Insurance Co. reduced its investment in International Business Machines Co. (NYSE: IBM) by 3.7% during the fourth quarter of the year. The fund sold 3,242 shares during the period, bringing its total holdings to 84,062 shares.
At the end of the most recent quarter, Elo Mutual Pension Insurance Co.’s holdings in International Business Machines were valued at $18,479,000.
Other institutional investors also adjusted their positions in the company recently. Compass Financial Services Inc. initiated a new stake in International Business Machines during the fourth quarter, valued at approximately $26,000. Vision Financial Markets LLC also acquired a new stake, worth roughly $31,000 during the same period. Avondale Wealth Management increased its holdings by 56.0% in the fourth quarter, now owning 156 shares of IBM stock valued at $34,000 after purchasing an additional 56 shares. Valued Wealth Advisors LLC lifted its holdings in shares of International Business Machines by 134.3% during the 4th quarter, now owning 157 shares of the technology company’s stock valued at $35,000 after acquiring an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth about $35,000.
Hedge funds and other institutional investors collectively own 58.96% of IBM stock.
Shares of IBM opened at $250.26 on Thursday. The company’s financial health includes a quick ratio of 1.00, a current ratio of 1.04, and a debt-to-equity ratio of 1.82. The firm has a 50-day simple moving average of $248.65 and a 200 day simple moving average of $230.90. International Business Machines has a market capitalization of $232.06 billion, a P/E ratio of 39.04, a P/E/G ratio of 5.81 and a beta of 0.74. The company’s fifty-two week low is $162.62 and its fifty-two week high is $266.45.
International Business Machines (NYSE: IBM) last released its quarterly earnings results on Wednesday, January 29th, reporting $3.92 EPS for the quarter, exceeding the consensus estimate of $3.77 by $0.15. The company had a net margin of 9.60% and a return on equity of 38.99%. Analysts project that International Business Machines Co. will post $10.78 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th, received a $1.67 dividend, representing an annualized dividend of $6.68 and a dividend yield of 2.67%. IBM’s payout ratio is 104.21%.
Analyst Ratings
Several analysts have recently commented on IBM. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating on Monday, March 17th. Sanford C. Bernstein increased its target price on shares of International Business Machines from $210.00 to $215.00 and maintained a “market perform” rating in a research report on Friday, January 3rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. JPMorgan Chase & Co. increased its price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Monday, January 27th.
Currently, two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating, and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus price target of $231.44.
Insider Activity
In related news, SVP Robert David Thomas sold 26,543 shares of the stock on Monday, March 3rd, at an average price of $253.01, for a total value of $6,715,644.43. Following this transaction, the senior vice president directly owns 45,007 shares, valued at $11,387,221.07. This action represents a 37.10% decrease in his ownership of the stock. Corporate insiders own 0.18% of the company’s stock.
International Business Machines Company Profile
International Business Machines Corporation, along with its subsidiaries, offers integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment provides hybrid cloud and AI platforms that enable clients to implement their digital and AI transformations across applications, data, and various operating environments.
