Meridian Wealth Advisors LLC Has $1.47 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Meridian Wealth Advisors LLC trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,689 shares of the technology company’s stock after selling 82 shares during the period. Meridian Wealth Advisors LLC’s holdings in International Business Machines were worth $1,470,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. State Street Corp raised its holdings in shares of International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares during the period. Charles Schwab Investment Management Inc. raised its stake in International Business Machines by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company’s stock worth $1,465,223,000 after buying an additional 126,547 shares during the period. FMR LLC grew its stake in International Business Machines by 6.0% in the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after acquiring an additional 294,276 shares during the period. Raymond James Financial Inc. bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $592,746,000. Finally, Holocene Advisors LP acquired a new position in shares of International Business Machines during the third quarter worth approximately $573,306,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

International Business Machines Stock Performance

NYSE:IBM opened at $243.75 on Friday. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. 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 business has a fifty day simple moving average of $246.77 and a two-hundred day simple moving average of $229.91. The company has a market capitalization of $226.02 billion, a P/E ratio of 38.03, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating 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%. On average, analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Analysts Set New Price Targets

A number of analysts have commented on IBM shares. BMO Capital Markets boosted their price target on shares of 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. Morgan Stanley raised their price target 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. JPMorgan Chase & Co. increased their price objective on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday, March 15th. Finally, Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, International Business Machines currently 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.