Atlantic Union Bankshares Corp Cuts Holdings in International Business Machines Co. (NYSE:IBM)

Atlantic Union Bankshares Corp reduced its position in International Business Machines Co. (NYSE:IBM) by 13.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,418 shares of the technology company’s stock after selling 1,035 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in International Business Machines were worth $1,411,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Naviter Wealth LLC increased its holdings in International Business Machines by 5.5% in the 4th quarter. Naviter Wealth LLC now owns 10,529 shares of the technology company’s stock valued at $2,315,000 after purchasing an additional 552 shares in the last quarter. Rialto Wealth Management LLC acquired a new stake in International Business Machines in the 4th quarter valued at $35,000. Lifeworks Advisors LLC increased its holdings in International Business Machines by 10.2% in the 4th quarter. Lifeworks Advisors LLC now owns 33,326 shares of the technology company’s stock valued at $7,326,000 after purchasing an additional 3,082 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of International Business Machines by 8.2% during the fourth quarter. Larson Financial Group LLC now owns 15,986 shares of the technology company’s stock valued at $3,514,000 after acquiring an additional 1,209 shares in the last quarter. Finally, Arjuna Capital grew its stake in shares of International Business Machines by 55.8% during the fourth quarter. Arjuna Capital now owns 11,892 shares of the technology company’s stock valued at $2,614,000 after acquiring an additional 4,257 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 sale, the senior vice president now 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IBM. Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. JPMorgan Chase & Co. raised their target price on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Wedbush began coverage on International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating for the company. Morgan Stanley raised their target price on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, Bank of America raised their target price on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $261.67 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The firm’s 50-day moving average price is $241.29 and its two-hundred day moving average price is $226.41. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $265.72. The stock has a market capitalization of $242.63 billion, a P/E ratio of 40.82, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its 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 net margin of 9.60% and a return on equity of 38.99%. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.55%. International Business Machines’s dividend payout ratio (DPR) is presently 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.