Heritage Wealth Advisors Sells 289 Shares of International Business Machines Co. (NYSE:IBM)

Heritage Wealth Advisors reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 7.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,787 shares of the technology company’s stock after selling 289 shares during the quarter. Heritage Wealth Advisors’ holdings in International Business Machines were worth $832,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of IBM. Raymond James Financial Inc. bought a new position in International Business Machines during the 4th quarter worth approximately $592,746,000. Holocene Advisors LP purchased a new stake in shares of International Business Machines during the third quarter valued at approximately $573,306,000. Vanguard Group Inc. grew its holdings in shares of International Business Machines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock worth $20,189,023,000 after purchasing an additional 1,539,888 shares during the last quarter. State Street Corp raised its holdings in International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after buying an additional 1,200,803 shares during the last quarter. Finally, KBC Group NV boosted its position in International Business Machines by 90.4% during the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock valued at $370,909,000 after buying an additional 800,930 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.6 %

IBM stock opened at $250.01 on Wednesday. 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 50 day moving average of $248.04 and a 200 day moving average of $230.76. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $266.45. The firm has a market cap of $231.83 billion, a PE ratio of 39.00, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping 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, research analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

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 stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IBM. UBS Group upped their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. 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 report on Thursday, January 30th. Morgan Stanley upped their target price on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Wedbush assumed coverage on shares of International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. Finally, StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday, March 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $231.44.

International Business Machines 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.