Meeder Asset Management Inc. Sells 199 Shares of International Business Machines Co. (NYSE:IBM)

Meeder Asset Management Inc. lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 34.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 373 shares of the technology company’s stock after selling 199 shares during the period. Meeder Asset Management Inc.’s holdings in International Business Machines were worth $82,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of IBM. Compass Financial Services Inc purchased a new stake in shares of International Business Machines during the 4th quarter valued at about $26,000. Vision Financial Markets LLC bought a new position in International Business Machines in the fourth quarter valued at about $31,000. Avondale Wealth Management boosted its position in International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares during the last quarter. Valued Wealth Advisors LLC grew its stake in shares of International Business Machines by 134.3% during the 4th 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 purchased a new stake in shares of International Business Machines during the 4th quarter valued at about $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 the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was 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. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by insiders.

International Business Machines Trading Up 0.7 %

IBM opened at $250.34 on Wednesday. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $266.45. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The stock has a 50-day moving average of $250.52 and a 200 day moving average of $232.13. The firm has a market cap of $232.13 billion, a P/E ratio of 39.05, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released 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 return on equity of 38.99% and a net margin of 9.60%. As a group, research analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. BMO Capital Markets boosted their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Wedbush began coverage on International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. Bank of America lifted their price target on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Morgan Stanley upped their price target on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $231.13.

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.