First Commonwealth Financial Corp PA Buys Shares of 1,317 International Business Machines Co. (NYSE:IBM)

First Commonwealth Financial Corp PA purchased a new position in shares of International Business Machines Co. (NYSE:IBM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,317 shares of the technology company’s stock, valued at approximately $290,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Treasurer of the State of North Carolina increased its stake in International Business Machines by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock valued at $108,942,000 after buying an additional 4,131 shares during the last quarter. Blue Zone Wealth Advisors LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $242,000. Brady Martz Wealth Solutions LLC bought a new stake in International Business Machines during the fourth quarter worth about $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in International Business Machines during the fourth quarter valued at approximately $373,000. Finally, Truist Financial Corp grew its stake in International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after purchasing an additional 49,591 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Jefferies Financial Group cut 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, March 31st. BMO Capital Markets boosted their price objective 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. JPMorgan Chase & Co. raised their target price 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. Royal Bank of Canada reiterated an “outperform” rating and set a $276.00 price target on shares of International Business Machines in a report on Monday. Finally, UBS Group upped their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and a consensus target price of $232.75.

Insider Buying and Selling at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.18% of the company’s stock.

International Business Machines Stock Performance

NYSE IBM opened at $238.45 on Friday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45. The firm has a 50-day moving average price of $247.94 and a two-hundred day moving average price of $233.36. The company has a market capitalization of $221.10 billion, a P/E ratio of 37.20, a P/E/G ratio of 5.81 and a beta of 0.67. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

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

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders 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 dividend on an annualized basis and a yield of 2.80%. International Business Machines’s payout ratio is 104.21%.

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.