Mitchell Mcleod Pugh & Williams Inc. Sells 483 Shares of International Business Machines Co. (NYSE:IBM)

Mitchell Mcleod Pugh & Williams Inc. lessened its position in shares of International Business Machines Co. (NYSE:IBM) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,400 shares of the technology company’s stock after selling 483 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in International Business Machines were worth $1,847,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in IBM. International Assets Investment Management LLC raised its stake in International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after buying an additional 2,702,340 shares during the period. Holocene Advisors LP bought a new position in International Business Machines in the third quarter valued at approximately $573,306,000. State Street Corp raised its stake in International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after acquiring an additional 1,200,803 shares in the last quarter. Eagle Asset Management Inc. increased its holdings in shares of International Business Machines by 587.1% during the third quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock worth $134,262,000 after buying an additional 536,785 shares in the last quarter. Finally, KBC Group NV raised its holdings in International Business Machines by 103.1% in the 3rd quarter. KBC Group NV now owns 886,323 shares of the technology company’s stock valued at $195,948,000 after buying an additional 449,912 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the topic of a number of recent analyst reports. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research report on Wednesday, October 2nd. Morgan Stanley lifted their price target on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. BMO Capital Markets increased their price target on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Bank of America upped their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Sanford C. Bernstein raised 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 research note on Friday, January 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $216.87.

International Business Machines Price Performance

NYSE:IBM opened at $224.73 on Monday. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $239.35. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The company has a 50 day moving average price of $222.87 and a 200-day moving average price of $210.89. The firm has a market cap of $207.80 billion, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 4.71 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period last year, the company posted $2.20 EPS. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities research analysts forecast that International Business Machines Co. will post 10.16 EPS for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.07% of the company’s stock.

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.