International Business Machines Co. (NYSE:IBM) Stake Lessened by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. lessened its holdings in shares of International Business Machines Co. (NYSE:IBM) by 10.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,758 shares of the technology company’s stock after selling 1,000 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in International Business Machines were worth $1,925,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Compass Financial Services Inc bought a new position in International Business Machines during the fourth quarter valued at about $26,000. Vision Financial Markets LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth $31,000. Avondale Wealth Management grew its stake in shares of 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. Valued Wealth Advisors LLC increased its stake in shares of International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after purchasing an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter worth about $35,000. 58.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of recent research reports. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. JPMorgan Chase & Co. increased their price target on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Wedbush began coverage on International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating for the company. Oppenheimer assumed coverage on International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Performance

Shares of IBM opened at $243.83 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The stock has a 50-day moving average price of $249.51 and a 200-day moving average price of $231.62. The company has a market cap of $226.10 billion, a PE ratio of 38.04, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, equities analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.74%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

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.