International Business Machines Co. (NYSE:IBM) Shares Sold by Vestcor Inc

Vestcor Inc trimmed its holdings in International Business Machines Co. (NYSE:IBM) by 2.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,769 shares of the technology company’s stock after selling 2,114 shares during the period. Vestcor Inc’s holdings in International Business Machines were worth $16,876,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Compass Financial Services Inc acquired a new stake in International Business Machines during the fourth quarter worth about $26,000. Vision Financial Markets LLC acquired a new stake in International Business Machines during the fourth quarter worth about $31,000. Avondale Wealth Management increased its position in International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares during the last quarter. Valued Wealth Advisors LLC increased its position in International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after purchasing an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in International Business Machines during the fourth quarter worth about $35,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Up 0.3 %

Shares of International Business Machines stock opened at $249.72 on Thursday. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45. The company has a 50 day moving average of $243.21 and a 200 day moving average of $227.58. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $231.56 billion, a P/E ratio of 38.96, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, research analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

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

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm’s 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 sale, the senior vice president now owns 45,007 shares of the company’s stock, 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 can be accessed through this link. 0.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on IBM shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. Sanford C. Bernstein increased their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Wedbush started coverage on shares of International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating for the company. Morgan Stanley increased their target price on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, Bank of America increased their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, 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.