International Business Machines Co. (NYSE:IBM) Shares Sold by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC lessened its stake in International Business Machines Co. (NYSE:IBM) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,482 shares of the technology company’s stock after selling 300 shares during the quarter. Plimoth Trust Co. LLC’s holdings in International Business Machines were worth $3,623,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. increased its holdings in shares of International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares during the last quarter. Brady Martz Wealth Solutions LLC purchased a new position in International Business Machines in the fourth quarter worth approximately $1,940,000. Philip James Wealth Mangement LLC purchased a new position in International Business Machines in the third quarter worth approximately $5,117,000. Nordea Investment Management AB grew its position in International Business Machines by 6.5% in the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after acquiring an additional 4,625 shares during the period. Finally, M.E. Allison & CO. Inc. purchased a new position in International Business Machines in the fourth quarter worth approximately $1,034,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

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

International Business Machines Stock Down 0.1 %

International Business Machines stock traded down $0.20 during midday trading on Wednesday, reaching $225.46. The company’s stock had a trading volume of 637,836 shares, compared to its average volume of 3,500,632. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $239.35. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The company has a market cap of $208.48 billion, a P/E ratio of 32.84, a P/E/G ratio of 4.78 and a beta of 0.74. The business has a 50-day simple moving average of $224.95 and a 200-day simple moving average of $213.44.

Analyst Ratings Changes

Several brokerages recently weighed in on IBM. Morgan Stanley lowered their price objective on International Business Machines from $222.00 to $217.00 and set an “equal weight” rating for the company in a research report on Tuesday. Bank of America increased their price objective on International Business Machines from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Jefferies Financial Group raised their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. UBS Group raised their price target on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Finally, Bernstein Bank raised their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $220.40.

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.