Kendall Capital Management Cuts Stake in International Business Machines Co. (NYSE:IBM)

Kendall Capital Management lowered its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,424 shares of the technology company’s stock after selling 125 shares during the quarter. Kendall Capital Management’s holdings in International Business Machines were worth $753,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. grew its position in shares of International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after purchasing an additional 166 shares in the last quarter. Blue Zone Wealth Advisors LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth about $242,000. Brady Martz Wealth Solutions LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth about $1,940,000. Tranquilli Financial Advisor LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth about $373,000. Finally, Truist Financial Corp grew its position in shares of 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 purchasing an additional 49,591 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Sanford C. Bernstein increased their price target on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Wedbush assumed coverage on International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating for the company. Jefferies Financial Group increased their price target on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Friday. Finally, BMO Capital Markets raised their price objective on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Trading Up 5.2 %

Shares of NYSE IBM opened at $261.67 on Monday. 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 business has a fifty day simple moving average of $241.29 and a two-hundred day simple moving average of $226.62. The firm has a market cap of $242.63 billion, a PE ratio of 40.82, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $265.72.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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%. Analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

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

Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.07% of the stock is currently owned by corporate insiders.

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.