Capital City Trust Co. FL Reduces Stock Position in International Business Machines Co. (NYSE:IBM)

Capital City Trust Co. FL lessened its position in shares of International Business Machines Co. (NYSE:IBM) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,635 shares of the technology company’s stock after selling 267 shares during the quarter. Capital City Trust Co. FL’s holdings in International Business Machines were worth $1,678,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its stake in shares of International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after buying an additional 166 shares during the last quarter. Blue Zone Wealth Advisors LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth about $242,000. Brady Martz Wealth Solutions LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth about $1,940,000. Tranquilli Financial Advisor LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth about $373,000. Finally, Philip James Wealth Mangement LLC purchased a new stake in shares of International Business Machines in the third quarter worth about $5,117,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $261.77 on Friday. The business has a 50 day simple moving average of $235.27 and a two-hundred day simple moving average of $221.81. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $265.72. The stock has a market capitalization of $242.05 billion, a P/E ratio of 40.84, 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.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating 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, analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.55%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IBM. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. BMO Capital Markets upped their price target on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Bank of America upped their price target on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Wedbush began coverage on International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating for the company. Finally, StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, International Business Machines 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.