ProVise Management Group LLC Sells 1,689 Shares of International Business Machines Co. (NYSE:IBM)

ProVise Management Group LLC lowered its holdings in shares of International Business Machines Co. (NYSE:IBM) by 51.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,602 shares of the technology company’s stock after selling 1,689 shares during the quarter. ProVise Management Group LLC’s holdings in International Business Machines were worth $352,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Compass Financial Services Inc bought a new stake in shares of International Business Machines in the 4th quarter worth about $26,000. Vision Financial Markets LLC bought a new stake in shares of International Business Machines in the 4th quarter worth about $31,000. Avondale Wealth Management lifted its holdings in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares during the last quarter. Valued Wealth Advisors LLC lifted its holdings in shares of International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after acquiring an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC bought a new stake in shares of International Business Machines in the 4th quarter worth about $35,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 2.3 %

Shares of International Business Machines stock opened at $252.54 on Thursday. The firm’s 50 day moving average price is $245.88 and its 200-day moving average price is $229.33. The company has a market cap of $234.17 billion, a P/E ratio of 39.40, a PEG ratio of 5.81 and a beta of 0.74. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45.

International Business Machines (NYSE:IBM) last released its earnings results 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 net margin of 9.60% and a return on equity of 38.99%. On average, sell-side analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction that occurred on Monday, March 3rd. The shares were 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. The trade was a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday, March 15th. Sanford C. Bernstein raised their price target on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. BMO Capital Markets raised their price target on shares of 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. JPMorgan Chase & Co. raised their price target on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Monday, January 27th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus price target of $231.44.

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.