Transcend Capital Advisors LLC Sells 328 Shares of International Business Machines Co. (NYSE:IBM)

Transcend Capital Advisors LLC decreased its position in International Business Machines Co. (NYSE:IBM) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,056 shares of the technology company’s stock after selling 328 shares during the period. International Business Machines accounts for 0.8% of Transcend Capital Advisors LLC’s portfolio, making the stock its 23rd largest position. Transcend Capital Advisors LLC’s holdings in International Business Machines were worth $9,331,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in International Business Machines by 0.4% in the third quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock valued at $11,515,290,000 after acquiring an additional 365,388 shares during the last quarter. Morgan Stanley boosted its holdings in International Business Machines by 13.4% during the third quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after buying an additional 1,919,490 shares during the last quarter. Northern Trust Corp boosted its holdings in International Business Machines by 4.2% during the third quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock worth $1,398,886,000 after buying an additional 404,948 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in International Business Machines by 10.2% during the third quarter. Bank of New York Mellon Corp now owns 8,691,369 shares of the technology company’s stock worth $1,219,399,000 after buying an additional 807,357 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in International Business Machines by 15.9% during the third quarter. California Public Employees Retirement System now owns 6,345,842 shares of the technology company’s stock worth $890,322,000 after buying an additional 871,247 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wedbush raised their target price on International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday. Morgan Stanley reduced their target price on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday. Jefferies Financial Group reduced their target price on International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a report on Tuesday. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $165.00 to $200.00 in a report on Friday, January 19th. Finally, Sanford C. Bernstein lifted their price objective on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus target price of $184.08.

International Business Machines Stock Down 1.1 %

International Business Machines stock traded down $1.78 during midday trading on Friday, reaching $167.13. The stock had a trading volume of 8,983,796 shares, compared to its average volume of 3,906,041. The firm’s fifty day simple moving average is $187.60 and its 200-day simple moving average is $170.15. International Business Machines Co. has a 1-year low of $120.55 and a 1-year high of $199.18. The stock has a market capitalization of $153.21 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 3.33 and a beta of 0.70. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.93 and a current ratio of 1.13.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, April 24th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. During the same quarter last year, the firm earned $1.36 EPS. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, analysts expect that International Business Machines Co. will post 9.99 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were given a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is 75.20%.

About International Business Machines

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.