Tucker Asset Management LLC Reduces Holdings in International Business Machines Co. (NYSE:IBM)

Tucker Asset Management LLC reduced its stake in International Business Machines Co. (NYSE:IBM) by 8.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,173 shares of the technology company’s stock after selling 115 shares during the period. Tucker Asset Management LLC’s holdings in International Business Machines were worth $258,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Intrust Bank NA raised its holdings in International Business Machines by 3.0% in the fourth quarter. Intrust Bank NA now owns 12,830 shares of the technology company’s stock worth $2,820,000 after purchasing an additional 370 shares in the last quarter. Biondo Investment Advisors LLC grew its holdings in International Business Machines by 1.2% during the fourth quarter. Biondo Investment Advisors LLC now owns 54,352 shares of the technology company’s stock valued at $11,948,000 after purchasing an additional 657 shares during the period. Allstate Corp bought a new stake in shares of International Business Machines during the 4th quarter valued at $6,020,000. Maridea Wealth Management LLC purchased a new stake in International Business Machines during the 4th quarter valued at approximately $221,000. Finally, RiverFront Investment Group LLC lifted its position in International Business Machines by 4.6% during the fourth quarter. RiverFront Investment Group LLC now owns 3,450 shares of the technology company’s stock valued at $758,000 after purchasing an additional 151 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other International Business Machines 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 transaction of $6,715,644.43. Following the completion of the transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Jefferies Financial Group raised their target price on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Bank of America boosted 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. Finally, Oppenheimer began coverage on shares of International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price for the company. Two 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Trading Down 1.0 %

IBM opened at $243.83 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. The business’s 50 day moving average is $249.51 and its two-hundred day moving average is $231.29. The firm has a market cap of $226.10 billion, a price-to-earnings ratio of 38.04, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, research analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.74%. International Business Machines’s dividend payout ratio (DPR) 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.