Rodgers Brothers Inc. Trims Stake in International Business Machines Co. (NYSE:IBM)

Rodgers Brothers Inc. lowered its holdings in International Business Machines Co. (NYSE:IBM) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,198 shares of the technology company’s stock after selling 548 shares during the period. Rodgers Brothers Inc.’s holdings in International Business Machines were worth $6,858,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of IBM. United Bank lifted its holdings in shares of International Business Machines by 53.3% during the 3rd quarter. United Bank now owns 5,628 shares of the technology company’s stock worth $1,244,000 after acquiring an additional 1,956 shares during the last quarter. Quest Partners LLC lifted its stake in International Business Machines by 23,700.0% during the third quarter. Quest Partners LLC now owns 238 shares of the technology company’s stock worth $53,000 after purchasing an additional 237 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of International Business Machines in the 3rd quarter worth about $4,355,000. Vinva Investment Management Ltd bought a new position in shares of International Business Machines during the 3rd quarter valued at about $599,000. Finally, L.M. Kohn & Company raised its holdings in shares of International Business Machines by 12.9% during the 3rd quarter. L.M. Kohn & Company now owns 2,238 shares of the technology company’s stock valued at $495,000 after buying an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on IBM. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. BMO Capital Markets upped their price target on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Finally, Bank of America lifted their price objective on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $231.44.

Insider Activity at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

International Business Machines Price Performance

IBM opened at $243.83 on Monday. 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 has a market capitalization of $226.10 billion, a PE ratio of 38.04, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The stock’s 50 day moving average price is $249.51 and its 200-day moving average price is $231.62. 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 posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating 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%. On average, equities research analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.74%. International Business Machines’s payout ratio is 104.21%.

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.