Glenview Trust co Has $34.76 Million Stake in International Business Machines Co. (NYSE:IBM)

Glenview Trust co grew its holdings in International Business Machines Co. (NYSE:IBM) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 158,109 shares of the technology company’s stock after purchasing an additional 1,554 shares during the quarter. Glenview Trust co’s holdings in International Business Machines were worth $34,757,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Meeder Asset Management Inc. increased its position in International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after buying an additional 166 shares during the period. Blue Zone Wealth Advisors LLC bought a new position in International Business Machines during the fourth quarter worth $242,000. Brady Martz Wealth Solutions LLC acquired a new position in International Business Machines during the 4th quarter valued at $1,940,000. Tranquilli Financial Advisor LLC bought a new stake in International Business Machines in the 4th quarter valued at $373,000. Finally, Truist Financial Corp grew its position in International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after purchasing an additional 49,591 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on IBM. BMO Capital Markets upped 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 report on Thursday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. UBS Group boosted their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. Sanford C. Bernstein lifted their price target on shares of 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. Finally, Morgan Stanley increased their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and an average target price of $231.44.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on 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 transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.07% of the company’s stock.

International Business Machines Stock Performance

NYSE:IBM opened at $248.15 on Friday. The stock has a market capitalization of $230.10 billion, a P/E ratio of 38.71, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. The firm has a 50 day moving average of $244.23 and a 200-day moving average of $228.26. 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 issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (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%. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.69%. The ex-dividend date was Monday, February 10th. International Business Machines’s payout ratio is presently 104.21%.

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.