International Business Machines Co. (NYSE:IBM) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 112,280 shares of the technology company’s stock after selling 1,099 shares during the quarter. International Business Machines accounts for approximately 1.3% of Parsons Capital Management Inc. RI’s portfolio, making the stock its 11th biggest position. Parsons Capital Management Inc. RI’s holdings in International Business Machines were worth $24,682,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Hazlett Burt & Watson Inc. boosted its stake in International Business Machines by 1,054.5% during 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 in the last quarter. Hara Capital LLC bought a new position in shares of International Business Machines in the third quarter valued at $29,000. Avondale Wealth Management lifted its position in shares of International Business Machines by 56.0% during 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. Valued Wealth Advisors LLC boosted its position in shares of International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after purchasing an additional 90 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in International Business Machines during the second quarter valued at about $36,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

NYSE IBM opened at $224.69 on Monday. The firm has a market cap of $207.75 billion, a P/E ratio of 32.71, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74. The stock’s 50-day moving average is $224.33 and its two-hundred day moving average is $212.82. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week 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.

International Business Machines Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IBM. Bernstein Bank boosted their price target 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. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. Sanford C. Bernstein lifted their price target on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Stifel Nicolaus increased their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their target price on International Business Machines from $227.00 to $233.00 and gave the company a “neutral” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $220.73.

Insiders Place Their Bets

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 transaction, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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.