Garner Asset Management Corp Cuts Stock Position in International Business Machines Co. (NYSE:IBM)

Garner Asset Management Corp trimmed its position in International Business Machines Co. (NYSE:IBM) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,316 shares of the technology company’s stock after selling 497 shares during the period. International Business Machines makes up about 1.2% of Garner Asset Management Corp’s holdings, making the stock its 21st biggest position. Garner Asset Management Corp’s holdings in International Business Machines were worth $2,707,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Reynders McVeigh Capital Management LLC boosted its holdings in shares of International Business Machines by 3.3% in the fourth quarter. Reynders McVeigh Capital Management LLC now owns 118,907 shares of the technology company’s stock valued at $26,139,000 after acquiring an additional 3,782 shares in the last quarter. SageView Advisory Group LLC increased its position in International Business Machines by 46.7% during the 4th quarter. SageView Advisory Group LLC now owns 10,018 shares of the technology company’s stock worth $2,202,000 after purchasing an additional 3,189 shares during the period. Carson Advisory Inc. lifted its holdings in shares of International Business Machines by 1.7% in the 4th quarter. Carson Advisory Inc. now owns 14,765 shares of the technology company’s stock valued at $3,246,000 after buying an additional 250 shares during the period. Keystone Financial Group boosted its stake in shares of International Business Machines by 31.4% in the fourth quarter. Keystone Financial Group now owns 4,748 shares of the technology company’s stock valued at $1,044,000 after buying an additional 1,135 shares in the last quarter. Finally, Fiducient Advisors LLC grew its holdings in International Business Machines by 13.6% during the fourth quarter. Fiducient Advisors LLC now owns 1,672 shares of the technology company’s stock worth $368,000 after acquiring an additional 200 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Jefferies Financial Group lowered their target price on shares of International Business Machines from $270.00 to $265.00 and set a “hold” rating on the stock in a research report on Monday, March 31st. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Bank of America upped their price target on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Sanford C. Bernstein raised their price objective 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average target price of $231.13.

International Business Machines Stock Up 2.6 %

Shares of NYSE IBM opened at $235.49 on Friday. The firm has a market cap of $218.37 billion, a P/E ratio of 36.74, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. The firm’s 50 day moving average price is $249.14 and its 200 day moving average price is $232.95.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.84%. International Business Machines’s payout ratio is currently 104.21%.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction 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 trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

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.