Meiji Yasuda Asset Management Co Ltd. Sells 3,760 Shares of International Business Machines Co. (NYSE:IBM)

Meiji Yasuda Asset Management Co Ltd. decreased its position in International Business Machines Co. (NYSE:IBM) by 3.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 98,875 shares of the technology company’s stock after selling 3,760 shares during the quarter. International Business Machines comprises approximately 0.8% of Meiji Yasuda Asset Management Co Ltd.’s investment portfolio, making the stock its 17th largest position. Meiji Yasuda Asset Management Co Ltd.’s holdings in International Business Machines were worth $21,736,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. United Bank lifted its holdings in shares of International Business Machines by 53.3% during the third quarter. United Bank now owns 5,628 shares of the technology company’s stock valued at $1,244,000 after purchasing an additional 1,956 shares during the last quarter. Quest Partners LLC raised its stake in International Business Machines by 23,700.0% during the third quarter. Quest Partners LLC now owns 238 shares of the technology company’s stock valued at $53,000 after buying an additional 237 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in International Business Machines by 23.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 95,529 shares of the technology company’s stock worth $21,120,000 after acquiring an additional 18,340 shares in the last quarter. Great Valley Advisor Group Inc. increased its holdings in shares of International Business Machines by 1.2% during the third quarter. Great Valley Advisor Group Inc. now owns 14,649 shares of the technology company’s stock valued at $3,239,000 after acquiring an additional 180 shares in the last quarter. Finally, Summit Trail Advisors LLC raised its position in shares of International Business Machines by 15.9% in the 3rd quarter. Summit Trail Advisors LLC now owns 9,181 shares of the technology company’s stock worth $2,030,000 after purchasing an additional 1,257 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Activity

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $248.49 on Tuesday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. The firm has a fifty day moving average price of $247.40 and a 200-day moving average price of $230.42. The stock has a market cap of $230.42 billion, a PE ratio of 38.77, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Equities analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on IBM shares. JPMorgan Chase & Co. lifted their target price 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. Morgan Stanley upped their price objective on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Jefferies Financial Group boosted their price target on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Two research 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. According to data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus price target of $231.44.

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.