Truepoint Inc. Lowers Position in International Business Machines Co. (NYSE:IBM)

Truepoint Inc. decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 15.0% during the fourth quarter, Holdings Channel reports. The fund owned 1,123 shares of the technology company’s stock after selling 198 shares during the period. Truepoint Inc.’s holdings in International Business Machines were worth $247,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. grew its stake in International Business Machines by 40.9% in the third 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 stake in shares of International Business Machines in the 4th quarter worth about $242,000. Brady Martz Wealth Solutions LLC bought a new position in shares of International Business Machines in the 4th quarter worth about $1,940,000. Tranquilli Financial Advisor LLC purchased a new position in International Business Machines during the 4th quarter valued at about $373,000. Finally, Truist Financial Corp boosted its stake in International Business Machines by 6.5% during the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after acquiring an additional 49,591 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 3.5 %

Shares of IBM stock opened at $243.42 on Friday. The stock has a market capitalization of $225.71 billion, a P/E ratio of 37.98, a P/E/G ratio of 5.81 and a beta of 0.74. 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 firm’s 50 day moving average is $246.29 and its 200 day moving average is $229.42. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45.

International Business Machines (NYSE:IBM) last released 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%. Research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IBM. Sanford C. Bernstein lifted their target price 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. Bank of America lifted their price objective 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. UBS Group increased their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Finally, Oppenheimer began coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $231.44.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were 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 $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by 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.