Gamco Investors INC. ET AL Reduces Position in International Business Machines Co. (NYSE:IBM)

Gamco Investors INC. ET AL reduced its holdings in International Business Machines Co. (NYSE:IBM) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,082 shares of the technology company’s stock after selling 514 shares during the period. Gamco Investors INC. ET AL’s holdings in International Business Machines were worth $4,195,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IBM. Treasurer of the State of North Carolina boosted its holdings in shares of International Business Machines by 0.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock worth $108,942,000 after purchasing an additional 4,131 shares during the last quarter. Blue Zone Wealth Advisors LLC acquired a new position in International Business Machines during the fourth quarter worth $242,000. Brady Martz Wealth Solutions LLC purchased a new stake in International Business Machines in the 4th quarter valued at $1,940,000. Tranquilli Financial Advisor LLC acquired a new stake in shares of International Business Machines in the 4th quarter worth $373,000. Finally, Truist Financial Corp raised its holdings in shares of 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 acquiring an additional 49,591 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 45,007 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

International Business Machines Trading Down 0.1 %

NYSE IBM opened at $238.45 on Friday. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. The firm has a 50 day moving average of $247.94 and a two-hundred day moving average of $233.36. The stock has a market capitalization of $221.10 billion, a PE ratio of 37.20, a price-to-earnings-growth 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 posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS 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 expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.80%. The ex-dividend date was Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. 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 report on Thursday, January 30th. UBS Group increased their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. BMO Capital Markets lifted their target price on 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. Finally, Jefferies Financial Group lowered their price target 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. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus price target of $232.75.

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.