International Business Machines Co. (NYSE:IBM) Shares Sold by OLD Point Trust & Financial Services N A

OLD Point Trust & Financial Services N A lowered its stake in International Business Machines Co. (NYSE:IBM) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,145 shares of the technology company’s stock after selling 1,064 shares during the quarter. International Business Machines comprises about 1.2% of OLD Point Trust & Financial Services N A’s portfolio, making the stock its 26th biggest holding. OLD Point Trust & Financial Services N A’s holdings in International Business Machines were worth $3,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in IBM. Compass Financial Services Inc acquired a new position in International Business Machines during the 4th quarter worth about $26,000. Vision Financial Markets LLC purchased a new position in International Business Machines in the fourth quarter worth approximately $31,000. Avondale Wealth Management grew its stake in shares of 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 in the last quarter. Valued Wealth Advisors LLC increased its holdings in shares of International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after acquiring an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC purchased a new position in International Business Machines in the fourth quarter valued at approximately $35,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Up 2.3 %

NYSE IBM opened at $252.54 on Thursday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company has a market cap of $234.17 billion, a P/E ratio of 39.40, a P/E/G ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $266.45. The company has a 50-day moving average of $245.88 and a 200-day moving average of $229.33.

International Business Machines (NYSE:IBM) last released 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%. As a group, equities analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Oppenheimer began coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. Bank of America raised their price target on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Wedbush began coverage on shares of International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating on the stock. Finally, StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday, March 15th. Two equities research 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. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average target price of $231.44.

International Business Machines Company 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.