Douglas Lane & Associates LLC Has $46.30 Million Position in International Business Machines Co. (NYSE:IBM)

Douglas Lane & Associates LLC cut its holdings in International Business Machines Co. (NYSE:IBM) by 5.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 283,079 shares of the technology company’s stock after selling 15,256 shares during the quarter. Douglas Lane & Associates LLC’s holdings in International Business Machines were worth $46,298,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBM. Cornerstone Planning Group LLC acquired a new stake in shares of International Business Machines in the second quarter valued at $28,000. Live Oak Investment Partners acquired a new stake in International Business Machines in the 4th quarter valued at approximately $30,000. Briaud Financial Planning Inc acquired a new stake in International Business Machines in the 3rd quarter valued at approximately $31,000. PCA Investment Advisory Services Inc. acquired a new position in shares of International Business Machines during the 2nd quarter worth approximately $31,000. Finally, Stone House Investment Management LLC increased its position in shares of International Business Machines by 971.4% during the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 204 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of IBM traded down $1.77 on Monday, reaching $189.07. 2,313,317 shares of the company’s stock traded hands, compared to its average volume of 5,262,950. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. The stock has a market cap of $173.33 billion, a PE ratio of 23.27, a PEG ratio of 3.74 and a beta of 0.70. The stock’s 50 day simple moving average is $185.41 and its two-hundred day simple moving average is $163.41. International Business Machines Co. has a 52-week low of $120.55 and a 52-week high of $199.18.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 24th. The technology company reported $3.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.78 by $0.09. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The business had revenue of $17.38 billion during the quarter, compared to the consensus estimate of $17.29 billion. During the same period last year, the business posted $3.60 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, analysts forecast that International Business Machines Co. will post 10.07 earnings per share 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. Stockholders of record on Friday, February 9th were issued a $1.66 dividend. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s payout ratio is currently 81.67%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IBM. Jefferies Financial Group began coverage on International Business Machines in a research note on Friday, January 5th. They set a “hold” rating and a $180.00 target price for the company. Bank of America boosted their price target on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Royal Bank of Canada upped their target price on International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Evercore ISI upgraded International Business Machines from an “in-line” rating to an “outperform” rating and upped their target price for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Finally, Sanford C. Bernstein upped their target price on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $176.85.

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.