Tidemark LLC Reduces Position in International Business Machines Co. (NYSE:IBM)

Tidemark LLC decreased its stake in shares of International Business Machines Co. (NYSE:IBM) by 20.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 271 shares of the technology company’s stock after selling 68 shares during the period. Tidemark LLC’s holdings in International Business Machines were worth $60,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of IBM. Pettinga Financial Advisors LLC purchased a new position in International Business Machines during the third quarter worth $221,000. United Bank grew its position in shares of International Business Machines by 53.3% in the third quarter. United Bank now owns 5,628 shares of the technology company’s stock valued at $1,244,000 after purchasing an additional 1,956 shares during the period. OneDigital Investment Advisors LLC grew its position in shares of International Business Machines by 17.0% in the third quarter. OneDigital Investment Advisors LLC now owns 26,017 shares of the technology company’s stock valued at $5,752,000 after purchasing an additional 3,789 shares during the period. CIBC Asset Management Inc grew its position in shares of International Business Machines by 8.3% in the third quarter. CIBC Asset Management Inc now owns 168,271 shares of the technology company’s stock valued at $37,201,000 after purchasing an additional 12,865 shares during the period. Finally, KCM Investment Advisors LLC grew its position in shares of International Business Machines by 1.5% in the third quarter. KCM Investment Advisors LLC now owns 8,727 shares of the technology company’s stock valued at $1,929,000 after purchasing an additional 132 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Transactions at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on IBM shares. Bank of America lifted their price objective on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. BMO Capital Markets lifted their price objective on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Finally, Jefferies Financial Group lifted their target price on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $231.44.

International Business Machines Trading Up 1.0 %

Shares of IBM opened at $248.15 on Friday. The stock’s 50-day moving average is $244.23 and its two-hundred day moving average is $228.26. The stock has a market cap of $230.10 billion, a PE ratio of 38.71, a P/E/G ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $266.45. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last announced 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 analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

International Business Machines Company 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.