Sit Investment Associates Inc. Has $8.01 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Sit Investment Associates Inc. lessened its position in International Business Machines Co. (NYSE:IBM) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,457 shares of the technology company’s stock after selling 2,000 shares during the quarter. Sit Investment Associates Inc.’s holdings in International Business Machines were worth $8,014,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Compass Financial Services Inc acquired a new position in shares of International Business Machines during the 4th quarter worth about $26,000. Vision Financial Markets LLC acquired a new position in International Business Machines in the 4th quarter valued at approximately $31,000. Avondale Wealth Management lifted its position 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 period. Valued Wealth Advisors LLC increased its position in shares of International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after purchasing an additional 90 shares during the period. Finally, Rialto Wealth Management LLC acquired a new position in shares of International Business Machines in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction 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 transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This represents a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

International Business Machines Price Performance

Shares of IBM stock opened at $227.31 on Friday. 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 firm has a market capitalization of $210.78 billion, a price-to-earnings ratio of 35.46, a PEG ratio of 5.81 and a beta of 0.67. The firm’s 50 day moving average is $251.46 and its 200-day moving average is $232.54. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 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%. Sell-side analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.94%. International Business Machines’s payout ratio is presently 104.21%.

Analyst Ratings Changes

IBM has been the topic of a number of recent research reports. Oppenheimer began coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target on the stock. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Morgan Stanley increased their target price on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, Bank of America boosted their price target on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $231.13.

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.