International Business Machines Co. (NYSE:IBM) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp decreased its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 153,069 shares of the technology company’s stock after selling 95 shares during the period. Peapack Gladstone Financial Corp’s holdings in International Business Machines were worth $33,650,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its position in shares of International Business Machines by 8.5% in the 4th quarter. Quadrant Capital Group LLC now owns 7,279 shares of the technology company’s stock worth $1,600,000 after buying an additional 571 shares during the period. Mirabaud Asset Management Ltd increased its stake in International Business Machines by 44.5% during the fourth quarter. Mirabaud Asset Management Ltd now owns 5,296 shares of the technology company’s stock worth $1,166,000 after acquiring an additional 1,632 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co raised its holdings in shares of International Business Machines by 35.0% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 77,168 shares of the technology company’s stock worth $16,964,000 after purchasing an additional 20,000 shares during the period. Wedbush Securities Inc. lifted its stake in shares of International Business Machines by 9.2% in the 4th quarter. Wedbush Securities Inc. now owns 58,791 shares of the technology company’s stock valued at $12,924,000 after purchasing an additional 4,934 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of International Business Machines by 0.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,361,646 shares of the technology company’s stock worth $299,331,000 after purchasing an additional 3,573 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the topic of a number of recent research reports. 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 report on Thursday, January 30th. UBS Group upped their price target on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Monday, January 27th. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Finally, Bank of America increased their target price on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $231.13.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by company insiders.

International Business Machines Trading Down 6.6 %

IBM opened at $227.31 on Friday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45. 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 stock has a market capitalization of $210.78 billion, a PE ratio of 35.46, a P/E/G ratio of 5.81 and a beta of 0.67. The firm’s fifty day moving average price is $251.46 and its 200 day moving average price is $232.54.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 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%. As a group, research analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio is currently 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.