International Business Machines Co. (NYSE:IBM) Shares Sold by Citizens & Northern Corp

Citizens & Northern Corp cut its holdings in International Business Machines Co. (NYSE:IBM) by 62.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,514 shares of the technology company’s stock after selling 7,614 shares during the period. Citizens & Northern Corp’s holdings in International Business Machines were worth $992,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of IBM. Meeder Asset Management Inc. boosted its holdings in International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $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 4th quarter worth approximately $242,000. Brady Martz Wealth Solutions LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at $1,940,000. Tranquilli Financial Advisor LLC purchased a new position in shares of International Business Machines in the 4th quarter valued at $373,000. Finally, Philip James Wealth Mangement LLC acquired a new stake in International Business Machines during the 3rd quarter worth $5,117,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of IBM opened at $260.65 on Tuesday. The firm has a market capitalization of $241.01 billion, a PE ratio of 40.66, a P/E/G ratio of 5.57 and a beta of 0.76. The stock’s 50 day moving average is $232.08 and its two-hundred day moving average is $219.64. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $265.72. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping 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%. Research analysts anticipate that International Business Machines Co. will post 10.75 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Morgan Stanley raised their price objective on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Monday, January 27th. BMO Capital Markets boosted 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. Oppenheimer started coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price on the stock. Finally, Wedbush assumed coverage on shares of International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $231.44.

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.