SouthState Corp Cuts Stock Holdings in International Business Machines Co. (NYSE:IBM)

SouthState Corp lessened its holdings in International Business Machines Co. (NYSE:IBM) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,452 shares of the technology company’s stock after selling 337 shares during the period. SouthState Corp’s holdings in International Business Machines were worth $5,815,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. State Street Corp raised its stake in shares of 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 valued at $12,307,940,000 after acquiring an additional 1,200,803 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of International Business Machines by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company’s stock valued at $1,465,223,000 after acquiring an additional 126,547 shares during the period. FMR LLC raised its stake in shares of International Business Machines by 6.0% in the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after acquiring an additional 294,276 shares during the period. Swiss National Bank raised its stake in shares of International Business Machines by 0.5% in the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after acquiring an additional 12,400 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of International Business Machines in the 4th quarter valued at $592,746,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Wedbush assumed coverage on shares of International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. Oppenheimer assumed coverage on shares of International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target for the company. Jefferies Financial Group raised their price target on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Finally, Morgan Stanley raised their price target on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $231.44.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.07% of the stock is currently owned by company insiders.

International Business Machines Trading Up 1.0 %

International Business Machines stock opened at $248.15 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The firm has a 50-day moving average price of $244.23 and a two-hundred day moving average price of $228.47. The firm has a market capitalization of $230.10 billion, a price-to-earnings ratio of 38.71, a PEG ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45.

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

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Monday, February 10th. International Business Machines’s 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.