Scotia Capital Inc. Sells 7,919 Shares of International Business Machines Co. (NYSE:IBM)

Scotia Capital Inc. decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 7.5% in the 4th quarter, Holdings Channel reports. The fund owned 96,980 shares of the technology company’s stock after selling 7,919 shares during the period. Scotia Capital Inc.’s holdings in International Business Machines were worth $21,319,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of IBM. Blue Zone Wealth Advisors LLC purchased a new stake in shares of International Business Machines during the 4th quarter valued at $242,000. Brady Martz Wealth Solutions LLC bought a new stake in International Business Machines in the fourth quarter valued at approximately $1,940,000. Tranquilli Financial Advisor LLC bought a new position in shares of International Business Machines during the fourth quarter valued at approximately $373,000. Truist Financial Corp raised its holdings in International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after purchasing an additional 49,591 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of International Business Machines by 6.5% in the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after acquiring an additional 4,625 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. The trade was 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. Corporate insiders own 0.18% of the company’s stock.

International Business Machines Trading Up 6.6 %

IBM stock opened at $235.58 on Thursday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45. The company’s 50 day moving average price is $250.35 and its two-hundred day moving average price is $232.80. The company has a market capitalization of $218.44 billion, a PE ratio of 36.75, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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, analysts predict that International Business Machines Co. will post 10.78 earnings per share 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. Shareholders of record on Monday, February 10th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.84%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. JPMorgan Chase & Co. upped their target price on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday, March 15th. Sanford C. Bernstein lifted their target price on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Finally, BMO Capital Markets boosted their price target on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average target price of $231.13.

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.