GSB Wealth Management LLC Lowers Stock Holdings in International Business Machines Co. (NYSE:IBM)

GSB Wealth Management LLC reduced its position in International Business Machines Co. (NYSE:IBM) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,705 shares of the technology company’s stock after selling 338 shares during the period. GSB Wealth Management LLC’s holdings in International Business Machines were worth $3,013,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in IBM. International Assets Investment Management LLC raised its holdings in International Business Machines by 20,324.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after acquiring an additional 2,702,340 shares during the last quarter. Holocene Advisors LP purchased a new stake in shares of International Business Machines in the 3rd quarter worth $573,306,000. State Street Corp lifted its position in shares of International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after buying an additional 1,200,803 shares in the last quarter. Eagle Asset Management Inc. lifted its position in shares of International Business Machines by 587.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock valued at $134,262,000 after buying an additional 536,785 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of International Business Machines by 103.1% during the 3rd quarter. KBC Group NV now owns 886,323 shares of the technology company’s stock valued at $195,948,000 after buying an additional 449,912 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

IBM has been the topic of a number of analyst reports. Sanford C. Bernstein lifted their price objective on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. Jefferies Financial Group lifted their price objective on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. BMO Capital Markets boosted their price target on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. boosted their price target on International Business Machines from $227.00 to $233.00 and gave the stock a “neutral” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and an average price target of $220.73.

International Business Machines Stock Performance

NYSE IBM opened at $224.69 on Friday. The company has a market cap of $207.75 billion, a P/E ratio of 32.71, a P/E/G ratio of 4.78 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The business’s 50 day moving average price is $224.33 and its 200-day moving average price is $212.32. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $239.35.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.20 EPS. Sell-side analysts predict that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

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.