International Business Machines Co. (NYSE:IBM) Shares Sold by Garland Capital Management Inc.

Garland Capital Management Inc. reduced its position in International Business Machines Co. (NYSE:IBM) by 2.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 25,011 shares of the technology company’s stock after selling 745 shares during the period. International Business Machines accounts for approximately 4.5% of Garland Capital Management Inc.’s investment portfolio, making the stock its 7th largest holding. Garland Capital Management Inc.’s holdings in International Business Machines were worth $5,498,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Zone Wealth Advisors LLC bought a new position in shares of International Business Machines in the 4th quarter worth $242,000. Brady Martz Wealth Solutions LLC bought a new position in International Business Machines during the fourth quarter worth about $1,940,000. Tranquilli Financial Advisor LLC bought a new position in International Business Machines during the fourth quarter worth about $373,000. Truist Financial Corp lifted its holdings in International Business Machines by 6.5% during the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after acquiring an additional 49,591 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in International Business Machines by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after acquiring an additional 4,625 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on IBM. UBS Group lifted their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Wedbush began coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating on the stock. BMO Capital Markets lifted their target price 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. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Finally, Sanford C. Bernstein boosted their price target on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average target price of $231.44.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

International Business Machines Trading Up 0.2 %

IBM stock opened at $243.75 on Friday. 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 fifty day moving average price of $246.77 and a two-hundred day moving average price of $229.71. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45. The stock has a market cap of $226.02 billion, a price-to-earnings ratio of 38.03, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 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%. Equities analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current 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 given 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 2.74%. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

About International Business Machines

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.