Wilkins Investment Counsel Inc. Sells 1,556 Shares of International Business Machines Co. (NYSE:IBM)

Wilkins Investment Counsel Inc. lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,028 shares of the technology company’s stock after selling 1,556 shares during the period. International Business Machines accounts for 3.1% of Wilkins Investment Counsel Inc.’s portfolio, making the stock its 6th largest holding. Wilkins Investment Counsel Inc.’s holdings in International Business Machines were worth $21,769,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IBM. United Bank grew its stake in shares of International Business Machines by 53.3% in the third quarter. United Bank now owns 5,628 shares of the technology company’s stock worth $1,244,000 after acquiring an additional 1,956 shares during the last quarter. Quest Partners LLC grew its stake in shares of International Business Machines by 23,700.0% in the third quarter. Quest Partners LLC now owns 238 shares of the technology company’s stock worth $53,000 after acquiring an additional 237 shares during the last quarter. Pathstone Holdings LLC grew its stake in shares of International Business Machines by 3.2% in the third quarter. Pathstone Holdings LLC now owns 115,093 shares of the technology company’s stock worth $25,445,000 after acquiring an additional 3,558 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after acquiring an additional 166 shares during the last quarter. Finally, Thompson Davis & CO. Inc. acquired a new stake in shares of International Business Machines in the third quarter worth $229,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

International Business Machines stock opened at $252.54 on Thursday. The stock has a 50-day simple moving average of $245.88 and a 200 day simple moving average of $229.33. 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 12-month low of $162.62 and a 12-month high of $266.45. The stock has a market capitalization of $234.17 billion, a price-to-earnings ratio of 39.40, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Oppenheimer assumed coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective on the stock. Jefferies Financial Group lifted their price target on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Sanford C. Bernstein lifted 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. Bank of America lifted their price target on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. lifted 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $231.44.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

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.