Perkins Coie Trust Co Has $4.16 Million Holdings in International Business Machines Co. (NYSE:IBM)

Perkins Coie Trust Co reduced its holdings in shares of International Business Machines Co. (NYSE:IBM) by 5.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 18,918 shares of the technology company’s stock after selling 1,164 shares during the quarter. Perkins Coie Trust Co’s holdings in International Business Machines were worth $4,159,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Hazlett Burt & Watson Inc. grew 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 worth $29,000 after purchasing an additional 116 shares during the period. Hara Capital LLC acquired a new stake in International Business Machines in the third quarter worth $29,000. Avondale Wealth Management increased its stake in International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of International Business Machines during the second quarter valued at about $36,000. Finally, Modus Advisors LLC bought a new position in International Business Machines in the fourth quarter worth approximately $40,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Performance

NYSE:IBM opened at $224.73 on Friday. 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 business has a fifty day simple moving average of $222.87 and a two-hundred day simple moving average of $210.66. The company has a market capitalization of $207.80 billion, a P/E ratio of 32.71, a P/E/G ratio of 4.71 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter last year, the business earned $2.20 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, analysts expect that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s 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 sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.07% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Sanford C. Bernstein lifted their price target on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Jefferies Financial Group boosted their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Finally, Bank of America upped their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $215.81.

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.