International Business Machines Co. (NYSE:IBM) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co decreased its stake in shares of International Business Machines Co. (NYSE:IBM) by 8.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,170,027 shares of the technology company’s stock after selling 109,854 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in International Business Machines were worth $257,244,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Passumpsic Savings Bank raised its position in shares of International Business Machines by 3.8% in the third quarter. Passumpsic Savings Bank now owns 2,045 shares of the technology company’s stock valued at $452,000 after buying an additional 74 shares during the last quarter. Virtu Financial LLC purchased a new stake in International Business Machines in the 3rd quarter worth approximately $766,000. Westside Investment Management Inc. raised its holdings in International Business Machines by 12.2% in the 3rd quarter. Westside Investment Management Inc. now owns 919 shares of the technology company’s stock valued at $188,000 after acquiring an additional 100 shares during the last quarter. SOA Wealth Advisors LLC. lifted its stake in shares of International Business Machines by 4.6% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 3,140 shares of the technology company’s stock worth $694,000 after purchasing an additional 139 shares during the period. Finally, Diamant Asset Management Inc. boosted its holdings in shares of International Business Machines by 11.0% during the third quarter. Diamant Asset Management Inc. now owns 1,610 shares of the technology company’s stock worth $356,000 after purchasing an additional 160 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Sanford C. Bernstein raised their price target on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Oppenheimer assumed coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $276.00 price target on shares of International Business Machines in a research note on Monday. BMO Capital Markets boosted their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $232.75.

International Business Machines Stock Performance

International Business Machines stock opened at $238.87 on Thursday. The firm has a market capitalization of $221.50 billion, a PE ratio of 37.27, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45. The stock’s 50 day moving average price is $248.15 and its 200 day moving average price is $233.24. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, sell-side analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.80%. International Business Machines’s dividend payout ratio is presently 104.21%.

Insider Transactions at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

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.