Mackenzie Financial Corp Reduces Holdings in International Business Machines Co. (NYSE:IBM)

Mackenzie Financial Corp cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 10.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 416,525 shares of the technology company’s stock after selling 49,310 shares during the period. Mackenzie Financial Corp’s holdings in International Business Machines were worth $68,123,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of IBM. Avion Wealth increased its stake in International Business Machines by 6.2% in the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after acquiring an additional 56 shares during the period. Financial Security Advisor Inc. raised its stake in International Business Machines by 2.7% during the 4th quarter. Financial Security Advisor Inc. now owns 2,346 shares of the technology company’s stock worth $384,000 after buying an additional 61 shares during the period. Cornerstone Wealth Group LLC increased its stake in International Business Machines by 3.6% during the 4th quarter. Cornerstone Wealth Group LLC now owns 1,734 shares of the technology company’s stock worth $284,000 after purchasing an additional 61 shares in the last quarter. Webster Bank N. A. lifted its stake in International Business Machines by 0.9% in the fourth quarter. Webster Bank N. A. now owns 7,131 shares of the technology company’s stock valued at $1,166,000 after buying an additional 62 shares in the last quarter. Finally, Thrive Wealth Management LLC boosted its holdings in shares of International Business Machines by 0.9% in the fourth quarter. Thrive Wealth Management LLC now owns 7,311 shares of the technology company’s stock valued at $1,196,000 after buying an additional 64 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

International Business Machines stock opened at $183.00 on Tuesday. The company has a market capitalization of $167.76 billion, a PE ratio of 22.29, a P/E/G ratio of 3.57 and a beta of 0.70. 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 50-day moving average price of $188.62 and a two-hundred day moving average price of $168.13. International Business Machines Co. has a 12 month low of $120.55 and a 12 month high of $199.18.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, topping the consensus estimate of $3.78 by $0.09. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The business had revenue of $17.38 billion for the quarter, compared to the consensus estimate of $17.29 billion. During the same period last year, the company earned $3.60 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. Analysts expect that International Business Machines Co. will post 10.07 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were paid a $1.66 dividend. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio is currently 81.67%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IBM. Royal Bank of Canada increased their target price on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Stifel Nicolaus boosted their price target on International Business Machines from $144.00 to $183.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Societe Generale reissued a “sell” rating and issued a $143.00 price objective on shares of International Business Machines in a report on Friday, January 5th. Bank of America increased their price target on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Finally, Evercore raised International Business Machines from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $165.00 to $200.00 in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus price target of $178.08.

International Business Machines 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.