Kesler Norman & Wride LLC Has $1.16 Million Stake in International Business Machines Co. (NYSE:IBM)

Kesler Norman & Wride LLC lowered its holdings in shares of International Business Machines Co. (NYSE:IBM) by 15.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,285 shares of the technology company’s stock after selling 993 shares during the quarter. Kesler Norman & Wride LLC’s holdings in International Business Machines were worth $1,162,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of IBM. Blue Zone Wealth Advisors LLC bought a new position in International Business Machines in the fourth quarter valued at approximately $242,000. Brady Martz Wealth Solutions LLC bought a new stake in International Business Machines in the 4th quarter valued at $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in International Business Machines in the 4th quarter worth $373,000. Truist Financial Corp increased its holdings in International Business Machines by 6.5% during the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after purchasing an additional 49,591 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of International Business Machines by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock valued at $16,615,000 after purchasing an additional 4,625 shares during the period. Institutional investors own 58.96% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IBM. Jefferies Financial Group decreased their price objective on International Business Machines from $270.00 to $265.00 and set a “hold” rating for the company in a report on Monday. BMO Capital Markets raised their price target on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Bank of America boosted their price objective 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. JPMorgan Chase & Co. lifted their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Two equities research 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. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and an average target price of $231.13.

International Business Machines Price Performance

Shares of IBM opened at $250.34 on Wednesday. The firm has a market capitalization of $232.13 billion, a PE ratio of 39.05, a PEG ratio of 5.81 and a beta of 0.74. 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 company’s 50-day moving average is $250.52 and its 200-day moving average is $232.13. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $266.45.

International Business Machines (NYSE:IBM) last released its quarterly 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%. Equities analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

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

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.