Van ECK Associates Corp Sells 164,743 Shares of International Business Machines Co. (NYSE:IBM)

Van ECK Associates Corp lowered its holdings in shares of International Business Machines Co. (NYSE:IBM) by 82.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,217 shares of the technology company’s stock after selling 164,743 shares during the period. Van ECK Associates Corp’s holdings in International Business Machines were worth $7,742,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Louisbourg Investments Inc. raised its holdings in International Business Machines by 74.9% in the fourth quarter. Louisbourg Investments Inc. now owns 432 shares of the technology company’s stock worth $95,000 after buying an additional 185 shares during the last quarter. Marks Group Wealth Management Inc raised its holdings in International Business Machines by 0.4% in the fourth quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock worth $2,292,000 after buying an additional 45 shares during the last quarter. Avidian Wealth Enterprises LLC raised its holdings in International Business Machines by 2.3% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 7,805 shares of the technology company’s stock worth $1,716,000 after buying an additional 179 shares during the last quarter. TFB Advisors LLC raised its holdings in International Business Machines by 22.2% in the fourth quarter. TFB Advisors LLC now owns 1,122 shares of the technology company’s stock worth $247,000 after buying an additional 204 shares during the last quarter. Finally, Capital Advisors Inc. OK raised its holdings in International Business Machines by 0.4% in the fourth quarter. Capital Advisors Inc. OK now owns 281,891 shares of the technology company’s stock worth $61,968,000 after buying an additional 1,171 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

IBM opened at $260.65 on Tuesday. The firm has a market cap of $241.01 billion, a P/E ratio of 40.66, a PEG ratio of 5.57 and a beta of 0.76. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $265.72. The company has a 50 day simple moving average of $232.08 and a two-hundred day simple moving average of $219.64. 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 (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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%. Equities analysts forecast that International Business Machines Co. will post 10.75 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $1.67 per share. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.56%. International Business Machines’s dividend payout ratio is 104.21%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on IBM shares. Oppenheimer started coverage on shares of International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. Wedbush started coverage on shares of International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. Jefferies Financial Group boosted their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. Finally, StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, International Business Machines has a consensus rating of “Hold” and an average 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.