Argent Trust Co Acquires 534 Shares of International Business Machines Co. (NYSE:IBM)

Argent Trust Co raised its position in shares of International Business Machines Co. (NYSE:IBM) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,570 shares of the technology company’s stock after acquiring an additional 534 shares during the period. International Business Machines makes up about 1.0% of Argent Trust Co’s investment portfolio, making the stock its 21st largest position. Argent Trust Co’s holdings in International Business Machines were worth $24,087,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of IBM. Compass Financial Services Inc purchased a new stake in shares of International Business Machines during the fourth quarter valued at $26,000. Vision Financial Markets LLC purchased a new stake in shares of International Business Machines during the fourth quarter valued at about $31,000. Avondale Wealth Management increased its holdings in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares in the last quarter. Valued Wealth Advisors LLC increased its holdings in shares of International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after acquiring an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at about $35,000. Institutional investors own 58.96% of the company’s stock.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the topic of several recent research reports. Oppenheimer initiated coverage on International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective on the stock. Jefferies Financial Group decreased their price objective on International Business Machines from $270.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, March 31st. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. BMO Capital Markets raised their target price on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $231.13.

International Business Machines Stock Performance

IBM traded down $5.11 during trading on Thursday, hitting $230.20. 328,524 shares of the stock were exchanged, compared to its average volume of 4,185,377. The firm has a market capitalization of $213.45 billion, a P/E ratio of 35.99, a PEG ratio of 5.81 and a beta of 0.67. 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 stock has a fifty day moving average price of $250.35 and a two-hundred day moving average price of $232.80. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $266.45.

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

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.90%. International Business Machines’s dividend payout ratio is currently 104.21%.

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.