Centaurus Financial Inc. Sells 3,326 Shares of International Business Machines Co. (NYSE:IBM)

Centaurus Financial Inc. trimmed its position in shares of International Business Machines Co. (NYSE:IBM) by 42.0% during the 4th quarter, Holdings Channel reports. The firm owned 4,601 shares of the technology company’s stock after selling 3,326 shares during the period. Centaurus Financial Inc.’s holdings in International Business Machines were worth $1,011,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Treasurer of the State of North Carolina raised its position in shares of International Business Machines by 0.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock valued at $108,942,000 after purchasing an additional 4,131 shares during the period. Blue Zone Wealth Advisors LLC bought a new stake in shares of International Business Machines during the 4th quarter valued at $242,000. Tranquilli Financial Advisor LLC bought a new stake in shares of International Business Machines during the 4th quarter valued at $373,000. Truist Financial Corp raised its position in shares of 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 purchasing an additional 49,591 shares during the period. Finally, Mufg Securities Americas Inc. bought a new stake in International Business Machines in the 4th quarter valued at $3,000,000. 58.96% of the stock is currently owned by institutional investors.

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 stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. UBS Group reiterated a “sell” rating and issued a $170.00 price target (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Oppenheimer assumed coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target on the stock. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the company a “hold” rating in a report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $249.06.

International Business Machines Stock Down 0.6%

NYSE IBM opened at $258.80 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 company has a fifty day moving average of $246.19 and a two-hundred day moving average of $239.48. The firm has a market capitalization of $240.53 billion, a price-to-earnings ratio of 40.37, a PEG ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a 52 week low of $163.53 and a 52 week high of $269.28.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. International Business Machines’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.68 earnings per share. On average, analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.60%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is presently 115.66%.

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.