TCTC Holdings LLC Raises Holdings in International Business Machines Co. (NYSE:IBM)

TCTC Holdings LLC raised its holdings in International Business Machines Co. (NYSE:IBM) by 0.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 352,577 shares of the technology company’s stock after buying an additional 140 shares during the quarter. International Business Machines comprises 2.8% of TCTC Holdings LLC’s investment portfolio, making the stock its 8th largest position. TCTC Holdings LLC’s holdings in International Business Machines were worth $77,507,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Pettinga Financial Advisors LLC bought a new stake in shares of International Business Machines during the third quarter valued at approximately $221,000. United Bank boosted its position in shares of International Business Machines by 53.3% during the third quarter. United Bank now owns 5,628 shares of the technology company’s stock valued at $1,244,000 after purchasing an additional 1,956 shares in the last quarter. KPP Advisory Services LLC boosted its position in shares of International Business Machines by 5.9% during the third quarter. KPP Advisory Services LLC now owns 2,168 shares of the technology company’s stock valued at $479,000 after purchasing an additional 121 shares in the last quarter. Veery Capital LLC bought a new stake in shares of International Business Machines during the third quarter valued at approximately $241,000. Finally, Atlanta Consulting Group Advisors LLC boosted its position in shares of International Business Machines by 4.1% during the third quarter. Atlanta Consulting Group Advisors LLC now owns 1,703 shares of the technology company’s stock valued at $376,000 after purchasing an additional 67 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction 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. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on IBM shares. Jefferies Financial Group lifted their price objective 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. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. 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 note on Friday, January 3rd. Finally, BMO Capital Markets lifted 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 analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, International Business Machines has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Performance

NYSE:IBM opened at $248.15 on Monday. The firm has a market capitalization of $230.10 billion, a PE ratio of 38.71, a P/E/G ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The stock has a 50-day simple moving average of $244.23 and a two-hundred day simple moving average of $228.47. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45.

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, 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%. Analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s payout ratio is presently 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.