Advisors Asset Management Inc. Trims Stock Holdings in International Business Machines Co. (NYSE:IBM)

Advisors Asset Management Inc. reduced its stake in International Business Machines Co. (NYSE:IBM) by 1.3% during the 4th quarter, Holdings Channel reports. The fund owned 233,441 shares of the technology company’s stock after selling 3,187 shares during the period. International Business Machines comprises about 0.9% of Advisors Asset Management Inc.’s portfolio, making the stock its 11th biggest position. Advisors Asset Management Inc.’s holdings in International Business Machines were worth $51,317,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. increased its stake in 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 acquiring an additional 166 shares during the last quarter. Blue Zone Wealth Advisors LLC acquired a new stake in International Business Machines during the fourth quarter worth about $242,000. Brady Martz Wealth Solutions LLC acquired a new stake in International Business Machines during the fourth quarter worth about $1,940,000. Tranquilli Financial Advisor LLC acquired a new stake in International Business Machines during the fourth quarter worth about $373,000. Finally, Truist Financial Corp increased its stake 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 during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction dated 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 owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by company insiders.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $253.00 on Tuesday. The stock has a market cap of $234.60 billion, a PE ratio of 39.47, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $266.45. 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 $244.84 and a 200-day simple moving average of $228.85.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.64%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Analyst Ratings Changes

IBM has been the subject of a number of recent research reports. Jefferies Financial Group increased their target price 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. 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. Oppenheimer started coverage on International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. UBS Group raised their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Finally, Wedbush assumed coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Company 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.