International Business Machines Co. (NYSE:IBM) Shares Sold by Horizon Bancorp Inc. IN

Horizon Bancorp Inc. IN reduced its holdings in International Business Machines Co. (NYSE:IBM) by 44.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250 shares of the technology company’s stock after selling 198 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in International Business Machines were worth $55,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cullen Investment Group LTD. grew its stake in International Business Machines by 3.2% during the 4th quarter. Cullen Investment Group LTD. now owns 3,985 shares of the technology company’s stock valued at $876,000 after acquiring an additional 123 shares in the last quarter. Tealwood Asset Management Inc. raised its holdings in International Business Machines by 19.6% during the fourth quarter. Tealwood Asset Management Inc. now owns 2,474 shares of the technology company’s stock valued at $544,000 after buying an additional 406 shares in the last quarter. Grandview Asset Management LLC acquired a new stake in International Business Machines in the 4th quarter worth approximately $1,189,000. Marcum Wealth LLC grew its position in shares of International Business Machines by 0.5% in the fourth quarter. Marcum Wealth LLC now owns 10,127 shares of the technology company’s stock valued at $2,226,000 after purchasing an additional 52 shares during the last quarter. Finally, Traveka Wealth LLC bought a new stake in International Business Machines in the 4th quarter valued at $209,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on IBM shares. BMO Capital Markets upped their price target on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Sanford C. Bernstein lifted their target price on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Bank of America boosted their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Bernstein Bank upped their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Finally, The Goldman Sachs Group boosted their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $214.88.

International Business Machines Stock Performance

NYSE:IBM opened at $217.39 on Tuesday. The business’s fifty day moving average is $222.14 and its 200 day moving average is $209.84. The firm has a market cap of $201.01 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 5.18 and a beta of 0.74. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $239.35. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period in the previous year, the business posted $2.20 EPS. The business’s quarterly revenue was up 1.5% on a year-over-year basis. Research analysts predict that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were paid a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.07%. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.07% of the company’s stock.

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.