Whittier Trust Co. Reduces Stock Position in International Business Machines Co. (NYSE:IBM)

Whittier Trust Co. cut its position in shares of International Business Machines Co. (NYSE:IBM) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,341 shares of the technology company’s stock after selling 741 shares during the period. Whittier Trust Co.’s holdings in International Business Machines were worth $8,428,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Compass Financial Services Inc purchased a new position in shares of International Business Machines during the 4th quarter worth about $26,000. Vision Financial Markets LLC purchased a new position in shares of International Business Machines during the 4th quarter worth about $31,000. Avondale Wealth Management boosted its stake in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares during the period. Valued Wealth Advisors LLC boosted its stake 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 worth $35,000 after purchasing an additional 90 shares during the period. Finally, Rialto Wealth Management LLC purchased a new position in shares of International Business Machines during the 4th quarter worth about $35,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Down 3.5 %

NYSE:IBM opened at $243.42 on Friday. The firm has a 50-day simple moving average of $246.29 and a 200-day simple moving average of $229.42. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45. The firm has a market cap of $225.71 billion, a P/E ratio of 37.98, a P/E/G ratio of 5.81 and a beta of 0.74.

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

International Business Machines Announces Dividend

The company 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. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s payout ratio is currently 104.21%.

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 that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Sanford C. Bernstein lifted 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 report on Friday, January 3rd. BMO Capital Markets lifted their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Finally, Oppenheimer assumed coverage on shares of International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $231.44.

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.