CoreFirst Bank & Trust Purchases Shares of 2,131 International Business Machines Co. (NYSE:IBM)

CoreFirst Bank & Trust acquired a new position in International Business Machines Co. (NYSE:IBM) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 2,131 shares of the technology company’s stock, valued at approximately $468,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in IBM. Blue Zone Wealth Advisors LLC bought a new position in shares of International Business Machines in the fourth quarter valued at $242,000. Brady Martz Wealth Solutions LLC acquired a new position in shares of International Business Machines in the 4th quarter worth $1,940,000. Tranquilli Financial Advisor LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth $373,000. Truist Financial Corp lifted its holdings in shares of International Business Machines by 6.5% during the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after purchasing an additional 49,591 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of International Business Machines by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock valued at $16,615,000 after purchasing an additional 4,625 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Up 1.9 %

NYSE IBM opened at $248.49 on Tuesday. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $266.45. 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 company has a market cap of $230.42 billion, a price-to-earnings ratio of 38.77, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The business’s fifty day moving average is $247.40 and its 200 day moving average is $230.42.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping 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, sell-side analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.69%. International Business Machines’s payout ratio is currently 104.21%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. Oppenheimer started coverage on International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price for the company. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Finally, BMO Capital Markets raised their price objective on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $231.44.

Insider Transactions at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of International Business Machines 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 owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

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.