First National Trust Co Sells 1,990 Shares of International Business Machines Co. (NYSE:IBM)

First National Trust Co decreased its holdings in International Business Machines Co. (NYSE:IBM) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,071 shares of the technology company’s stock after selling 1,990 shares during the period. First National Trust Co’s holdings in International Business Machines were worth $12,326,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its position in International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares in the last quarter. Blue Zone Wealth Advisors LLC purchased a new position in shares of International Business Machines in the fourth quarter valued at about $242,000. Brady Martz Wealth Solutions LLC purchased a new position in shares of International Business Machines in the fourth quarter valued at about $1,940,000. Tranquilli Financial Advisor LLC purchased a new position in shares of International Business Machines in the fourth quarter valued at about $373,000. Finally, Truist Financial Corp lifted its position in shares of International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after acquiring an additional 49,591 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Bank of America boosted their price objective on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. BMO Capital Markets lifted their target price on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Oppenheimer assumed coverage on International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. Finally, Morgan Stanley boosted their price objective on 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $231.44.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the company’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 of the company’s stock, valued at $11,387,221.07. This represents a 37.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by insiders.

International Business Machines Stock Down 1.6 %

International Business Machines stock opened at $245.67 on Friday. The business has a fifty day moving average of $243.72 and a two-hundred day moving average of $227.70. 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 $227.80 billion, a P/E ratio of 38.33, a P/E/G ratio of 5.81 and a beta of 0.74. 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 issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) 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%. On average, analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Monday, February 10th. International Business Machines’s payout ratio 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.