Summitry LLC Reduces Position in International Business Machines Co. (NYSE:IBM)

Summitry LLC reduced its stake in International Business Machines Co. (NYSE:IBM) by 18.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,232 shares of the technology company’s stock after selling 491 shares during the quarter. Summitry LLC’s holdings in International Business Machines were worth $491,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. PKS Advisory Services LLC bought a new position in shares of International Business Machines in the fourth quarter worth about $912,000. Syverson Strege & Co increased its holdings in International Business Machines by 14.6% in the 4th quarter. Syverson Strege & Co now owns 2,220 shares of the technology company’s stock worth $488,000 after acquiring an additional 283 shares in the last quarter. TIAA Trust National Association increased its holdings in International Business Machines by 1.2% in the 4th quarter. TIAA Trust National Association now owns 108,400 shares of the technology company’s stock worth $23,830,000 after acquiring an additional 1,244 shares in the last quarter. FineMark National Bank & Trust lifted its holdings in International Business Machines by 1.6% during the fourth quarter. FineMark National Bank & Trust now owns 9,269 shares of the technology company’s stock valued at $2,038,000 after purchasing an additional 143 shares in the last quarter. Finally, Ashton Thomas Securities LLC lifted its holdings in International Business Machines by 89.6% during the fourth quarter. Ashton Thomas Securities LLC now owns 2,543 shares of the technology company’s stock valued at $560,000 after purchasing an additional 1,202 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IBM. Morgan Stanley increased their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. UBS Group raised their price target on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Monday, January 27th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Finally, Wedbush began coverage on International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. Two investment 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $231.44.

Insider Transactions at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were 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 directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

International Business Machines Stock Up 0.6 %

Shares of NYSE:IBM opened at $250.01 on Wednesday. The company has a market cap of $231.83 billion, a price-to-earnings ratio of 39.00, a PEG 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. 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 company has a 50-day moving average price of $248.04 and a 200 day moving average price of $230.76.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities research analysts predict 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. Stockholders of record on Monday, February 10th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

About International Business Machines

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.