RNC Capital Management LLC Sells 15,845 Shares of International Business Machines Co. (NYSE:IBM)

RNC Capital Management LLC reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 6.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 238,804 shares of the technology company’s stock after selling 15,845 shares during the quarter. International Business Machines comprises about 2.8% of RNC Capital Management LLC’s holdings, making the stock its 12th largest position. RNC Capital Management LLC’s holdings in International Business Machines were worth $52,496,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake in International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after acquiring an additional 166 shares during the last quarter. Brady Martz Wealth Solutions LLC acquired a new position in International Business Machines during the fourth quarter valued at approximately $1,940,000. Tranquilli Financial Advisor LLC bought a new stake in International Business Machines in the fourth quarter valued at approximately $373,000. Philip James Wealth Mangement LLC acquired a new stake in International Business Machines in the third quarter worth $5,117,000. Finally, Nordea Investment Management AB boosted its position in shares of International Business Machines by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after purchasing an additional 4,625 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $253.30 on Friday. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. The stock has a market capitalization of $234.21 billion, a price-to-earnings ratio of 39.52, a PEG ratio of 5.63 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The business has a 50-day moving average of $228.73 and a 200-day moving average of $216.19.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping 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 predict that International Business Machines Co. will post 10.73 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Analyst Ratings Changes

Several analysts recently commented on the company. Morgan Stanley raised their price objective on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Sanford C. Bernstein lifted their price objective on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, Bank of America increased their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus price target of $225.53.

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.