Perkins Coie Trust Co Sells 1,164 Shares of International Business Machines Co. (NYSE:IBM)

Perkins Coie Trust Co trimmed its holdings in International Business Machines Co. (NYSE:IBM) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,918 shares of the technology company’s stock after selling 1,164 shares during the period. Perkins Coie Trust Co’s holdings in International Business Machines were worth $4,159,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clarius Group LLC raised its holdings in International Business Machines by 3.5% in the 4th quarter. Clarius Group LLC now owns 5,240 shares of the technology company’s stock valued at $1,152,000 after acquiring an additional 178 shares during the period. Joule Financial LLC grew its position in shares of International Business Machines by 39.9% in the fourth quarter. Joule Financial LLC now owns 7,569 shares of the technology company’s stock valued at $1,664,000 after purchasing an additional 2,160 shares during the last quarter. Aaron Wealth Advisors LLC increased its stake in shares of International Business Machines by 7.7% during the fourth quarter. Aaron Wealth Advisors LLC now owns 8,420 shares of the technology company’s stock worth $1,851,000 after purchasing an additional 600 shares during the period. Sandy Cove Advisors LLC boosted its stake in International Business Machines by 4.1% in the 4th quarter. Sandy Cove Advisors LLC now owns 3,023 shares of the technology company’s stock valued at $665,000 after purchasing an additional 118 shares during the period. Finally, Financial Advisors LLC grew its holdings in International Business Machines by 18.7% in the 4th quarter. Financial Advisors LLC now owns 2,357 shares of the technology company’s stock valued at $518,000 after buying an additional 371 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on 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. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of research reports. Sanford C. Bernstein lifted their target price on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Jefferies Financial Group boosted their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Bank of America raised their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley boosted their price target on International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. Finally, BMO Capital Markets raised their price objective on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average target price of $215.81.

International Business Machines Stock Up 0.9 %

IBM stock opened at $224.73 on Friday. The firm has a 50-day moving average price of $222.87 and a 200-day moving average price of $210.66. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $239.35. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The stock has a market capitalization of $207.80 billion, a P/E ratio of 32.71, a price-to-earnings-growth ratio of 4.71 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 EPS. As a group, equities research analysts anticipate that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were given a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.97%. International Business Machines’s dividend payout ratio is currently 97.23%.

About International Business Machines

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.