International Business Machines Co. (NYSE:IBM) Shares Sold by 1ST Source Bank

1ST Source Bank lowered its stake in International Business Machines Co. (NYSE:IBM) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,660 shares of the technology company’s stock after selling 584 shares during the quarter. 1ST Source Bank’s holdings in International Business Machines were worth $6,740,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. JBR Co Financial Management Inc boosted its stake in shares of International Business Machines by 0.6% during the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock worth $1,405,000 after acquiring an additional 40 shares in the last quarter. Schechter Investment Advisors LLC boosted its stake in International Business Machines by 0.7% during the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock valued at $1,396,000 after purchasing an additional 43 shares during the period. Callan Capital LLC boosted its stake in International Business Machines by 2.4% during the 4th quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock valued at $411,000 after purchasing an additional 44 shares during the period. Marks Group Wealth Management Inc raised its holdings in International Business Machines by 0.4% in the 4th quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock valued at $2,292,000 after acquiring an additional 45 shares in the last quarter. Finally, Tower Wealth Partners Inc. raised its holdings in International Business Machines by 1.9% in the 4th quarter. Tower Wealth Partners Inc. now owns 2,376 shares of the technology company’s stock valued at $522,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Transactions at International Business Machines

In other 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 value of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares in the company, 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 Securities & Exchange Commission, which is available at this link. 0.07% of the stock is owned by corporate insiders.

International Business Machines Stock Up 1.0 %

Shares of IBM opened at $248.15 on Monday. 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. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The business’s fifty day moving average price is $244.23 and its two-hundred day moving average price is $228.47. 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 announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating 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, analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.69%. International Business Machines’s dividend payout ratio is currently 104.21%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Bank of America upped their price target on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Jefferies Financial Group increased their target price on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. UBS Group increased their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Sanford C. Bernstein increased their target price on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Finally, StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $231.44.

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.