Trustco Bank Corp N Y Sells 883 Shares of International Business Machines Co. (NYSE:IBM)

Trustco Bank Corp N Y lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 14.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,271 shares of the technology company’s stock after selling 883 shares during the period. International Business Machines accounts for about 1.2% of Trustco Bank Corp N Y’s investment portfolio, making the stock its 26th biggest holding. Trustco Bank Corp N Y’s holdings in International Business Machines were worth $1,159,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in International Business Machines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after purchasing an additional 1,539,888 shares during the period. Geode Capital Management LLC grew its holdings in International Business Machines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock valued at $4,589,145,000 after purchasing an additional 427,499 shares during the period. Capital World Investors grew its holdings in International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares during the period. Northern Trust Corp grew its holdings in International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after purchasing an additional 1,704,209 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of International Business Machines by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company’s stock worth $1,465,223,000 after acquiring an additional 126,547 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

NYSE:IBM opened at $266.70 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $247.87 billion, a P/E ratio of 41.61, a P/E/G ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a 12 month low of $163.53 and a 12 month high of $267.98. The business’s 50-day moving average is $243.74 and its 200 day moving average is $236.69.

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

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be given a dividend of $1.68 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.52%. International Business Machines’s dividend payout ratio is 115.66%.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on IBM shares. Royal Bank of Canada upped their price objective on International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday. UBS Group reaffirmed a “sell” rating and issued a $170.00 price objective (up previously from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. KGI Securities set a $242.00 price objective on International Business Machines and gave the stock a “hold” rating in a research note on Thursday, April 24th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Finally, Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Moderate Buy” and an average target price of $249.06.

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.