Gallacher Capital Management LLC Has $213,000 Stock Position in International Business Machines Co. (NYSE:IBM)

Gallacher Capital Management LLC lessened its stake in International Business Machines Co. (NYSE:IBM) by 24.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 969 shares of the technology company’s stock after selling 321 shares during the quarter. Gallacher Capital Management LLC’s holdings in International Business Machines were worth $213,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. raised its position in 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 purchasing an additional 166 shares during the last quarter. Blue Zone Wealth Advisors LLC bought a new stake in shares of International Business Machines during the fourth quarter worth $242,000. Brady Martz Wealth Solutions LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at $1,940,000. Tranquilli Financial Advisor LLC bought a new position in International Business Machines in the fourth quarter valued at about $373,000. Finally, Truist Financial Corp increased its position 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 worth $178,296,000 after purchasing an additional 49,591 shares during the period. 58.96% of the stock is owned by institutional investors.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated 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 transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

IBM has been the topic of several recent research reports. Morgan Stanley raised their target price on shares of 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. BMO Capital Markets raised 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 research note on Thursday, January 30th. Oppenheimer started coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Trading Up 1.0 %

IBM opened at $248.15 on Monday. The firm’s fifty day simple moving average is $244.23 and its 200 day simple moving average is $228.47. The stock has a market capitalization of $230.10 billion, a P/E ratio of 38.71, a P/E/G ratio of 5.81 and a beta of 0.74. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $266.45.

International Business Machines (NYSE:IBM) last announced its earnings results 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 return on equity of 38.99% and a net margin of 9.60%. As a group, research analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Monday, February 10th. 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.