Rockland Trust Co. Sells 299 Shares of International Business Machines Co. (NYSE:IBM)

Rockland Trust Co. lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,799 shares of the technology company’s stock after selling 299 shares during the quarter. Rockland Trust Co.’s holdings in International Business Machines were worth $2,594,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in IBM. Hazlett Burt & Watson Inc. boosted its position in shares of International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of International Business Machines in the third quarter valued at about $29,000. Avondale Wealth Management boosted its stake in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares during the last quarter. Oliver Lagore Vanvalin Investment Group bought a new position in International Business Machines in the 2nd quarter valued at $36,000. Finally, Modus Advisors LLC bought a new stake in International Business Machines in the fourth quarter worth about $40,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Up 0.1 %

Shares of International Business Machines stock opened at $217.54 on Wednesday. The company has a 50-day moving average of $222.34 and a 200 day moving average of $210.16. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $239.35. The firm has a market cap of $201.15 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 5.18 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period last year, the business earned $2.20 EPS. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.07%. International Business Machines’s payout ratio is 97.23%.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Jefferies Financial Group lifted their price objective on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. The Goldman Sachs Group upped their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Sanford C. Bernstein upped their price target on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Finally, Morgan Stanley upped their price target on shares of International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $215.81.

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.