Garland Capital Management Inc. Sells 745 Shares of International Business Machines Co. (NYSE:IBM)

Garland Capital Management Inc. trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,011 shares of the technology company’s stock after selling 745 shares during the period. International Business Machines makes up about 4.5% of Garland Capital Management Inc.’s holdings, making the stock its 7th biggest position. Garland Capital Management Inc.’s holdings in International Business Machines were worth $5,498,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of IBM. Raymond James Financial Inc. acquired a new position in International Business Machines in the 4th quarter worth about $592,746,000. Holocene Advisors LP acquired a new position in International Business Machines in the 3rd quarter worth about $573,306,000. State Street Corp increased its position in International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. KBC Group NV increased its position in International Business Machines by 90.4% in the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after purchasing an additional 800,930 shares during the last quarter. Finally, Strategic Financial Concepts LLC increased its position in International Business Machines by 23,311.1% in the 4th quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock worth $153,262,000 after purchasing an additional 694,204 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Sanford C. Bernstein increased 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. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. UBS Group increased their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. Finally, StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $231.44.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

International Business Machines Trading Up 0.2 %

Shares of IBM opened at $243.75 on Friday. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. 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 simple moving average of $246.77 and a 200-day simple moving average of $229.71. The stock has a market cap of $226.02 billion, a PE ratio of 38.03, a PEG ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, sell-side analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.74%. International Business Machines’s dividend payout ratio is 104.21%.

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.