ProVise Management Group LLC Sells 1,689 Shares of International Business Machines Co. (NYSE:IBM)

ProVise Management Group LLC lessened its position in International Business Machines Co. (NYSE:IBM) by 51.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,602 shares of the technology company’s stock after selling 1,689 shares during the period. ProVise Management Group LLC’s holdings in International Business Machines were worth $352,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its stake in shares of International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after buying an additional 166 shares in the last quarter. Blue Zone Wealth Advisors LLC bought a new position in shares of International Business Machines in the fourth quarter worth approximately $242,000. Brady Martz Wealth Solutions LLC bought a new position in shares of International Business Machines in the fourth quarter worth approximately $1,940,000. Tranquilli Financial Advisor LLC bought a new position in shares of International Business Machines in the fourth quarter worth approximately $373,000. Finally, Truist Financial Corp lifted its stake in shares of International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after buying an additional 49,591 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on Monday, March 3rd. The shares were 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 owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by company insiders.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $252.54 on Thursday. The firm has a fifty day moving average price of $245.88 and a 200-day moving average price of $229.33. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The stock has a market cap of $234.17 billion, a PE ratio of 39.40, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45.

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, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Equities analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced 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 dividend yield of 2.65%. International Business Machines’s dividend payout ratio is 104.21%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IBM. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Morgan Stanley increased their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Finally, Sanford C. Bernstein increased their price objective on shares of 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.