Patten Group Inc. Sells 68 Shares of International Business Machines Co. (NYSE:IBM)

Patten Group Inc. cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,765 shares of the technology company’s stock after selling 68 shares during the period. Patten Group Inc.’s holdings in International Business Machines were worth $2,147,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Holocene Advisors LP bought a new position in shares of International Business Machines in the third quarter worth about $573,306,000. State Street Corp grew its position in shares of International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after buying an additional 1,200,803 shares during the last quarter. KBC Group NV increased its stake in shares of International Business Machines by 90.4% in the fourth quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock valued at $370,909,000 after buying an additional 800,930 shares during the period. Strategic Financial Concepts LLC increased its position in International Business Machines by 23,311.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock valued at $153,262,000 after purchasing an additional 694,204 shares during the period. Finally, Proficio Capital Partners LLC raised its stake in International Business Machines by 39,801.6% during the fourth quarter. Proficio Capital Partners LLC now owns 590,543 shares of the technology company’s stock worth $129,819,000 after buying an additional 589,063 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Insider Transactions at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the business’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 transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.07% of the company’s stock.

International Business Machines Trading Down 1.0 %

NYSE:IBM opened at $250.04 on Tuesday. International Business Machines Co. has a one year low of $162.62 and a one year high of $265.72. The company has a market cap of $231.85 billion, a PE ratio of 39.01, a PEG ratio of 5.81 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The firm has a 50-day moving average of $238.93 and a 200-day moving average of $224.98.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 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%. As a group, equities research analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is 104.21%.

Wall Street Analyst Weigh In

IBM has been the subject of several research analyst reports. Sanford C. Bernstein lifted their price objective on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Wedbush initiated coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating on the stock. Jefferies Financial Group raised their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Finally, Morgan Stanley boosted their target price on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $231.44.

International Business Machines Profile

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.