Argent Advisors Inc. Cuts Stock Holdings in International Business Machines Co. (NYSE:IBM)

Argent Advisors Inc. decreased its stake in shares of International Business Machines Co. (NYSE:IBM) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,145 shares of the technology company’s stock after selling 220 shares during the period. Argent Advisors Inc.’s holdings in International Business Machines were worth $911,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of IBM. Raymond James Financial Inc. purchased a new position in International Business Machines in the fourth quarter worth $592,746,000. Holocene Advisors LP purchased a new position in International Business Machines in the third quarter worth $573,306,000. State Street Corp boosted its position in International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. KBC Group NV boosted its position in International Business Machines by 90.4% in the fourth quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after purchasing an additional 800,930 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its position in International Business Machines by 23,311.1% in the fourth quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock worth $153,262,000 after purchasing an additional 694,204 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction dated 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $253.00 on Tuesday. The firm has a market capitalization of $234.60 billion, a P/E ratio of 39.47, a P/E/G ratio of 5.81 and a beta of 0.74. 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 stock’s 50-day simple moving average is $244.84 and its two-hundred day simple moving average is $228.85. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $266.45.

International Business Machines (NYSE:IBM) last announced 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, equities analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.64%. International Business Machines’s dividend payout ratio is currently 104.21%.

Analysts Set New Price Targets

IBM has been the topic of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Monday, January 27th. Bank of America boosted their target price on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. BMO Capital Markets boosted their target price on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Wedbush began coverage on International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. boosted their target price on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target of $231.44.

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.