Heritage Trust Co Acquires New Shares in International Business Machines Co. (NYSE:IBM)

Heritage Trust Co bought a new position in International Business Machines Co. (NYSE:IBM) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,777 shares of the technology company’s stock, valued at approximately $1,270,000.

Several other hedge funds have also recently modified their holdings of IBM. Compass Financial Services Inc bought a new position in International Business Machines during the 4th quarter valued at about $26,000. Vision Financial Markets LLC bought a new position in International Business Machines during the fourth quarter valued at approximately $31,000. Avondale Wealth Management boosted its holdings in International Business Machines by 56.0% in the fourth 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 last quarter. Valued Wealth Advisors LLC boosted its holdings in International Business Machines by 134.3% in the fourth 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 last quarter. Finally, Rialto Wealth Management LLC bought a new stake in International Business Machines in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

NYSE:IBM opened at $235.49 on Friday. The stock has a market cap of $218.37 billion, a PE ratio of 36.74, a P/E/G ratio of 5.81 and a beta of 0.67. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The business’s 50-day simple moving average is $249.14 and its two-hundred day simple moving average is $232.95. 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 posted its quarterly 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 return on equity of 38.99% and a net margin of 9.60%. As a group, analysts forecast 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 dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.84%. International Business Machines’s payout ratio is 104.21%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group increased their price target on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. Morgan Stanley boosted their price target on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Oppenheimer started coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target for the company. Sanford C. Bernstein raised their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $231.13.

Insider Buying and Selling at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is currently owned by insiders.

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.