Whittier Trust Co. Cuts Stock Holdings in International Business Machines Co. (NYSE:IBM)

Whittier Trust Co. decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,341 shares of the technology company’s stock after selling 741 shares during the quarter. Whittier Trust Co.’s holdings in International Business Machines were worth $8,428,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in IBM. Compass Financial Services Inc bought a new position in International Business Machines during the fourth quarter valued at approximately $26,000. Vision Financial Markets LLC bought a new position in International Business Machines during the fourth quarter valued at approximately $31,000. Avondale Wealth Management lifted its position in International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares during the period. Valued Wealth Advisors LLC lifted its position in International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after purchasing an additional 90 shares during the period. Finally, Rialto Wealth Management LLC bought a new position in International Business Machines during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction on Monday, March 3rd. The shares were 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 directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on IBM shares. Wedbush started coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. JPMorgan Chase & Co. increased their price target on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Bank of America increased their price target on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Oppenheimer assumed coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $231.44.

International Business Machines Stock Performance

IBM opened at $243.42 on Friday. The stock has a market capitalization of $225.71 billion, a price-to-earnings ratio of 37.98, a PEG ratio of 5.81 and a beta of 0.74. The company has a fifty day moving average of $246.29 and a 200 day moving average of $229.42. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $266.45. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, sell-side analysts forecast 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 paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.74%. International Business Machines’s payout ratio is 104.21%.

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.