HBK Sorce Advisory LLC Sells 93 Shares of International Business Machines Co. (NYSE:IBM)

HBK Sorce Advisory LLC lessened its position in International Business Machines Co. (NYSE:IBM) by 0.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 17,284 shares of the technology company’s stock after selling 93 shares during the period. HBK Sorce Advisory LLC’s holdings in International Business Machines were worth $3,800,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its holdings in shares of International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after acquiring an additional 166 shares during the last quarter. Blue Zone Wealth Advisors LLC bought a new stake in shares of International Business Machines in the 4th quarter worth about $242,000. Brady Martz Wealth Solutions LLC bought a new stake in shares of International Business Machines in the 4th quarter worth about $1,940,000. Tranquilli Financial Advisor LLC bought a new stake in shares of International Business Machines in the 4th quarter worth about $373,000. Finally, Truist Financial Corp lifted its holdings in International Business Machines by 6.5% during the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after buying an additional 49,591 shares in the last quarter. 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 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 in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.07% of the stock is owned by corporate insiders.

International Business Machines Stock Performance

IBM opened at $249.72 on Thursday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The firm has a fifty day moving average price of $243.21 and a 200 day moving average price of $227.58. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. The stock has a market cap of $231.56 billion, a P/E ratio of 38.96, a P/E/G ratio of 5.81 and a beta of 0.74.

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

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors 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 yield of 2.67%. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

Analyst Ratings Changes

IBM has been the subject of a number of research analyst reports. Oppenheimer initiated coverage on shares of International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. BMO Capital Markets lifted 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 report on Thursday, January 30th. Morgan Stanley lifted their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Finally, Wedbush started coverage on shares of International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $231.44.

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.