International Business Machines Co. (NYSE:IBM) Shares Sold by OLD Point Trust & Financial Services N A

OLD Point Trust & Financial Services N A trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,145 shares of the technology company’s stock after selling 1,064 shares during the period. International Business Machines accounts for 1.2% of OLD Point Trust & Financial Services N A’s portfolio, making the stock its 26th biggest position. OLD Point Trust & Financial Services N A’s holdings in International Business Machines were worth $3,329,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of IBM. Elevate Wealth Advisory Inc. bought a new stake in shares of International Business Machines during the 4th quarter valued at about $269,000. Berkeley Capital Partners LLC boosted its stake in International Business Machines by 1.3% in the fourth quarter. Berkeley Capital Partners LLC now owns 4,802 shares of the technology company’s stock valued at $1,056,000 after acquiring an additional 62 shares during the period. iA Global Asset Management Inc. grew its holdings in shares of International Business Machines by 152.0% during the fourth quarter. iA Global Asset Management Inc. now owns 5,397 shares of the technology company’s stock valued at $1,186,000 after purchasing an additional 3,255 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of International Business Machines by 5.9% during the 4th quarter. Teacher Retirement System of Texas now owns 385,908 shares of the technology company’s stock worth $84,834,000 after purchasing an additional 21,568 shares during the period. Finally, Sandy Spring Bank lifted its holdings in shares of International Business Machines by 23.1% in the 4th quarter. Sandy Spring Bank now owns 13,523 shares of the technology company’s stock worth $2,973,000 after purchasing an additional 2,542 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on IBM shares. Wedbush started coverage on International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating for the company. UBS Group upped their price target on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. 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 research report on Thursday, January 30th. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, Bank of America raised their price target on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $231.44.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $252.54 on Thursday. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The stock has a market cap of $234.17 billion, a PE ratio of 39.40, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company’s 50-day moving average price is $245.88 and its two-hundred day moving average price is $229.33.

International Business Machines (NYSE:IBM) last released its 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%. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Insider Activity

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is currently owned by company insiders.

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.