International Business Machines Co. (NYSE:IBM) Shares Sold by Montgomery Investment Management Inc.

Montgomery Investment Management Inc. lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 0.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,006 shares of the technology company’s stock after selling 150 shares during the period. International Business Machines makes up approximately 3.3% of Montgomery Investment Management Inc.’s portfolio, making the stock its 9th largest position. Montgomery Investment Management Inc.’s holdings in International Business Machines were worth $8,355,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in IBM. Czech National Bank boosted its position in shares of International Business Machines by 7.2% during the 3rd quarter. Czech National Bank now owns 187,647 shares of the technology company’s stock worth $41,485,000 after purchasing an additional 12,599 shares during the period. Azzad Asset Management Inc. ADV boosted its position in shares of International Business Machines by 3.4% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 11,827 shares of the technology company’s stock worth $2,615,000 after purchasing an additional 384 shares during the period. Everpar Advisors LLC boosted its position in shares of International Business Machines by 19.6% during the 3rd quarter. Everpar Advisors LLC now owns 1,452 shares of the technology company’s stock worth $321,000 after purchasing an additional 238 shares during the period. Heartwood Wealth Advisors LLC boosted its position in shares of International Business Machines by 2.0% during the 3rd quarter. Heartwood Wealth Advisors LLC now owns 5,908 shares of the technology company’s stock worth $1,306,000 after purchasing an additional 117 shares during the period. Finally, Ignite Planners LLC boosted its position in International Business Machines by 16.1% in the 3rd quarter. Ignite Planners LLC now owns 3,314 shares of the technology company’s stock valued at $733,000 after buying an additional 460 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Up 1.4 %

Shares of NYSE:IBM opened at $264.30 on Wednesday. The company has a market cap of $244.38 billion, a price-to-earnings ratio of 41.23, a PEG ratio of 5.63 and a beta of 0.76. The firm’s 50-day simple moving average is $227.30 and its 200-day simple moving average is $215.29. 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 fifty-two week low of $162.62 and a fifty-two week high of $265.25.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, equities research analysts predict that International Business Machines Co. will post 10.73 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Wall Street Analyst Weigh In

Several equities analysts have commented on IBM shares. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Morgan Stanley raised their price target on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Stifel Nicolaus raised their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Bank of America raised their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, BMO Capital Markets raised their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $225.53.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is owned by insiders.

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.