Gabelli Funds LLC cut its position in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 9.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,195 shares of the technology company’s stock after selling 2,985 shares during the quarter. Gabelli Funds LLC’s holdings in International Business Machines were worth $5,978,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. Treasurer of the State of North Carolina boosted its stake in International Business Machines by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock worth $108,942,000 after acquiring an additional 4,131 shares in the last quarter. Blue Zone Wealth Advisors LLC bought a new position in shares of International Business Machines during the 4th quarter worth about $242,000. Brady Martz Wealth Solutions LLC acquired a new stake in shares of International Business Machines in the 4th quarter valued at about $1,940,000. Tranquilli Financial Advisor LLC bought a new stake in International Business Machines in the 4th quarter valued at about $373,000. Finally, Truist Financial Corp raised its stake in International Business Machines by 6.5% during the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after buying an additional 49,591 shares during the period. Institutional investors own 58.96% of the company’s stock.
International Business Machines Price Performance
Shares of NYSE:IBM opened at $238.45 on Friday. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $266.45. The company’s 50-day moving average is $247.94 and its 200 day moving average is $233.36. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The company has a market capitalization of $221.10 billion, a P/E ratio of 37.20, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67.
International Business Machines Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.80%. International Business Machines’s payout ratio is presently 104.21%.
Insider Activity
In other news, SVP Robert David Thomas sold 26,543 shares of the business’s 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.18% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on IBM shares. Oppenheimer started coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. UBS Group raised their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Morgan Stanley boosted their target price on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and an average target price of $232.75.
Check Out Our Latest Research Report on IBM
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.
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