International Business Machines Co. (NYSE:IBM) Shares Sold by Adirondack Trust Co.

Adirondack Trust Co. lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,364 shares of the technology company’s stock after selling 126 shares during the quarter. Adirondack Trust Co.’s holdings in International Business Machines were worth $1,839,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in IBM. Hazlett Burt & Watson Inc. boosted its position in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC acquired a new stake in International Business Machines in the third quarter worth about $29,000. Avondale Wealth Management grew its position in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after buying an additional 56 shares in the last quarter. Modus Advisors LLC acquired a new position in International Business Machines during the 4th quarter valued at about $40,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of International Business Machines during the 3rd quarter worth about $43,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Down 0.5 %

International Business Machines stock opened at $223.09 on Thursday. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $239.35. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The stock has a market cap of $206.28 billion, a P/E ratio of 32.47, a P/E/G ratio of 4.80 and a beta of 0.74. The company’s fifty day simple moving average is $223.60 and its 200-day simple moving average is $211.90.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.99%. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. 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 report on Thursday, October 3rd. Stifel Nicolaus raised their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Jefferies Financial Group boosted their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Finally, DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $216.87.

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.