Nuveen Asset Management LLC Lowers Position in International Business Machines Co. (NYSE:IBM)

Nuveen Asset Management LLC reduced its stake in International Business Machines Co. (NYSE:IBM) by 4.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,344,888 shares of the technology company’s stock after selling 162,276 shares during the period. Nuveen Asset Management LLC owned approximately 0.36% of International Business Machines worth $735,307,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Obermeyer Wealth Partners raised its stake in shares of International Business Machines by 41.4% in the 4th quarter. Obermeyer Wealth Partners now owns 1,522 shares of the technology company’s stock valued at $335,000 after acquiring an additional 446 shares during the period. Obsidian Personal Planning Solutions LLC increased its holdings in International Business Machines by 1.1% in the 4th quarter. Obsidian Personal Planning Solutions LLC now owns 6,047 shares of the technology company’s stock valued at $1,329,000 after purchasing an additional 66 shares during the last quarter. Maytus Capital Management LLC purchased a new stake in International Business Machines in the fourth quarter valued at approximately $7,254,000. McGowan Group Asset Management Inc. lifted its stake in International Business Machines by 18.7% during the fourth quarter. McGowan Group Asset Management Inc. now owns 2,426 shares of the technology company’s stock worth $533,000 after purchasing an additional 382 shares in the last quarter. Finally, Measured Risk Portfolios Inc. purchased a new position in shares of International Business Machines during the fourth quarter worth $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Bank of America boosted their price objective on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. Finally, StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, International Business Machines currently has an average rating of “Moderate Buy” and an average price target of $248.50.

Insider Buying and Selling

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. The trade was a 37.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by company insiders.

International Business Machines Price Performance

Shares of IBM opened at $258.55 on Wednesday. The firm has a market capitalization of $240.30 billion, a price-to-earnings ratio of 40.34, a PEG ratio of 5.81 and a beta of 0.64. The firm’s fifty day simple moving average is $243.26 and its 200-day simple moving average is $235.35. International Business Machines Co. has a twelve month low of $163.53 and a twelve month high of $266.45. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.68 EPS. Equities analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued a $1.68 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.60%. International Business Machines’s dividend payout ratio is presently 115.66%.

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.