International Business Machines Co. (NYSE:IBM) Shares Sold by Exeter Financial LLC

Exeter Financial LLC reduced its position in International Business Machines Co. (NYSE:IBM) by 0.7% in the 4th quarter, Holdings Channel reports. The firm owned 17,831 shares of the technology company’s stock after selling 133 shares during the quarter. International Business Machines accounts for about 1.8% of Exeter Financial LLC’s portfolio, making the stock its 17th largest position. Exeter Financial LLC’s holdings in International Business Machines were worth $3,920,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IBM. Hazlett Burt & Watson Inc. raised its position in shares of International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after buying an additional 116 shares during the last quarter. Hara Capital LLC purchased a new stake in International Business Machines during the 3rd quarter valued at about $29,000. Avondale Wealth Management raised its holdings in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares during the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in International Business Machines in the 2nd quarter worth approximately $36,000. Finally, Modus Advisors LLC acquired a new position in shares of International Business Machines during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is currently owned by corporate insiders.

International Business Machines Trading Down 1.1 %

IBM opened at $217.39 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a market cap of $201.01 billion, a P/E ratio of 31.64, a P/E/G ratio of 5.18 and a beta of 0.74. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $239.35. The business has a fifty day simple moving average of $222.14 and a 200-day simple moving average of $209.84.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.20 EPS. On average, equities analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.07%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on IBM shares. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research report on Wednesday, October 2nd. Sanford C. Bernstein lifted their price target on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Bernstein Bank upped their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group increased their price target on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines has an average rating of “Hold” and a consensus price target of $214.88.

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.