Mattern Wealth Management LLC Sells 300 Shares of International Business Machines Co. (NYSE:IBM)

Mattern Wealth Management LLC reduced its stake in International Business Machines Co. (NYSE:IBM) by 16.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,561 shares of the technology company’s stock after selling 300 shares during the period. Mattern Wealth Management LLC’s holdings in International Business Machines were worth $343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Nilsine Partners LLC increased its holdings in International Business Machines by 35.3% during the 4th quarter. Nilsine Partners LLC now owns 9,539 shares of the technology company’s stock worth $2,097,000 after acquiring an additional 2,487 shares during the period. Lebenthal Global Advisors LLC increased its stake in International Business Machines by 93.9% in the 4th quarter. Lebenthal Global Advisors LLC now owns 5,092 shares of the technology company’s stock worth $1,119,000 after acquiring an additional 2,466 shares during the last quarter. Foundations Investment Advisors LLC raised its holdings in shares of International Business Machines by 25.8% in the 4th quarter. Foundations Investment Advisors LLC now owns 38,116 shares of the technology company’s stock valued at $8,379,000 after acquiring an additional 7,815 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its position in shares of International Business Machines by 5.9% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 22,033 shares of the technology company’s stock valued at $4,843,000 after acquiring an additional 1,233 shares during the last quarter. Finally, Valued Wealth Advisors LLC boosted its position in shares of International Business Machines by 134.3% during the 4th 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 during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.07% of the stock is owned by insiders.

International Business Machines Trading Down 0.3 %

NYSE:IBM opened at $224.06 on Tuesday. The firm has a market capitalization of $207.18 billion, a P/E ratio of 32.61, a P/E/G ratio of 4.78 and a beta of 0.74. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $239.35. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The company has a fifty day moving average of $224.33 and a 200 day moving average of $212.82.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.98%. International Business Machines’s dividend payout ratio is currently 97.23%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IBM. Stifel Nicolaus raised their target price on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Sanford C. Bernstein raised their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. JPMorgan Chase & Co. increased their target price on International Business Machines from $227.00 to $233.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, Bernstein Bank lifted their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $220.73.

International Business Machines Company 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.