1620 Investment Advisors Inc. Reduces Stock Holdings in International Business Machines Co. (NYSE:IBM)

1620 Investment Advisors Inc. lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,340 shares of the technology company’s stock after selling 154 shares during the quarter. International Business Machines comprises approximately 0.9% of 1620 Investment Advisors Inc.’s portfolio, making the stock its 22nd biggest position. 1620 Investment Advisors Inc.’s holdings in International Business Machines were worth $1,174,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its position in International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after buying an additional 166 shares during the period. Blue Zone Wealth Advisors LLC purchased a new position in International Business Machines during the fourth quarter valued at $242,000. Brady Martz Wealth Solutions LLC purchased a new position in International Business Machines during the fourth quarter valued at $1,940,000. Tranquilli Financial Advisor LLC purchased a new position in International Business Machines during the fourth quarter valued at $373,000. Finally, Truist Financial Corp lifted its position 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 valued at $178,296,000 after buying an additional 49,591 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated Monday, March 3rd. The stock was 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 of the company’s stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

International Business Machines Trading Down 3.5 %

Shares of NYSE:IBM opened at $243.42 on Friday. The stock has a market capitalization of $225.71 billion, a price-to-earnings ratio of 37.98, a PEG ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The stock’s 50-day simple moving average is $246.29 and its two-hundred day simple moving average is $229.42. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Analysts expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.74%. International Business Machines’s payout ratio is currently 104.21%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday, March 15th. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday. Wedbush assumed coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. Finally, Sanford C. Bernstein raised 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. Two research 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 stock. According to data from MarketBeat, the stock presently 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.