1ST Source Bank Decreases Stake in International Business Machines Co. (NYSE:IBM)

1ST Source Bank lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,660 shares of the technology company’s stock after selling 584 shares during the period. 1ST Source Bank’s holdings in International Business Machines were worth $6,740,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Cassady Schiller Wealth Management LLC increased its position in shares of International Business Machines by 7.5% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 674 shares of the technology company’s stock worth $148,000 after purchasing an additional 47 shares during the last quarter. Signaturefd LLC grew its position in International Business Machines by 18.0% in the 4th quarter. Signaturefd LLC now owns 23,050 shares of the technology company’s stock valued at $5,067,000 after acquiring an additional 3,524 shares in the last quarter. Cibc World Markets Corp grew its position in shares of International Business Machines by 6.5% during the fourth quarter. Cibc World Markets Corp now owns 287,158 shares of the technology company’s stock worth $63,126,000 after buying an additional 17,648 shares in the last quarter. Gray Wealth Management Inc. grew its position in shares of International Business Machines by 17.3% during the fourth quarter. Gray Wealth Management Inc. now owns 2,119 shares of the technology company’s stock worth $466,000 after buying an additional 313 shares in the last quarter. Finally, IMG Wealth Management Inc. acquired a new position in shares of International Business Machines during the fourth quarter worth about $218,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the subject of several recent analyst reports. Oppenheimer initiated coverage on International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Monday, January 27th. Wedbush initiated coverage on International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating for the company. Finally, Bank of America upped their price objective on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Up 1.0 %

Shares of NYSE:IBM opened at $248.15 on Monday. 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 52-week low of $162.62 and a 52-week high of $266.45. The stock’s fifty day simple moving average is $244.23 and its 200-day simple moving average is $228.47. The company has a market capitalization of $230.10 billion, a P/E ratio of 38.71, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating 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, equities research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given 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 2.69%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Insider Buying and Selling

In other news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by company 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.