Oak Grove Capital LLC Sells 1,870 Shares of International Business Machines Co. (NYSE:IBM)

Oak Grove Capital LLC cut its stake in International Business Machines Co. (NYSE:IBM) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,110 shares of the technology company’s stock after selling 1,870 shares during the period. International Business Machines comprises approximately 2.5% of Oak Grove Capital LLC’s holdings, making the stock its 10th largest holding. Oak Grove Capital LLC’s holdings in International Business Machines were worth $16,731,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. raised its stake in International Business Machines by 40.9% during 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 in the last quarter. Blue Zone Wealth Advisors LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth about $242,000. Brady Martz Wealth Solutions LLC bought a new position in International Business Machines during the 4th quarter valued at about $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in International Business Machines in the fourth quarter valued at about $373,000. Finally, Philip James Wealth Mangement LLC bought a new stake in International Business Machines during the third quarter worth about $5,117,000. Institutional investors own 58.96% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the topic of several recent analyst reports. Jefferies Financial Group boosted their target price on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. UBS Group boosted their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Sanford C. Bernstein raised their target price on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Morgan Stanley upped 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 report on Thursday, January 30th. Finally, BMO Capital Markets increased their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a 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.

International Business Machines Stock Performance

IBM stock opened at $253.07 on Wednesday. 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 twelve month low of $162.62 and a twelve month high of $265.72. The business’s fifty day moving average is $239.50 and its 200-day moving average is $225.40. The company has a market cap of $234.66 billion, a P/E ratio of 39.48, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its earnings results 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 return on equity of 38.99% and a net margin of 9.60%. Equities research analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s payout ratio is presently 104.21%.

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.