Bank of Stockton Reduces Stock Position in International Business Machines Co. (NYSE:IBM)

Bank of Stockton reduced its holdings in International Business Machines Co. (NYSE:IBM) by 3.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,668 shares of the technology company’s stock after selling 145 shares during the period. Bank of Stockton’s holdings in International Business Machines were worth $1,026,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake in shares of International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after purchasing an additional 166 shares during the period. Blue Zone Wealth Advisors LLC purchased a new position in shares of International Business Machines during the 4th quarter worth about $242,000. Brady Martz Wealth Solutions LLC purchased a new position in shares of International Business Machines during the 4th quarter worth about $1,940,000. Tranquilli Financial Advisor LLC purchased a new position in shares of International Business Machines during the 4th quarter worth about $373,000. Finally, Philip James Wealth Mangement LLC purchased a new position in shares of International Business Machines during the 3rd quarter worth about $5,117,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on IBM shares. Sanford C. Bernstein lifted their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Wedbush started coverage on shares of International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. Jefferies Financial Group lifted their price objective 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. Morgan Stanley lifted their price objective 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Trading Up 0.2 %

NYSE IBM opened at $264.85 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. The firm has a market cap of $244.89 billion, a PE ratio of 41.32, a price-to-earnings-growth ratio of 5.80 and a beta of 0.76. The company has a 50 day moving average price of $234.65 and a 200 day moving average price of $221.26. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $265.72.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping 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%. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.77 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.52%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

International Business Machines Company 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.