Parsons Capital Management Inc. RI Has $24.68 Million Holdings in International Business Machines Co. (NYSE:IBM)

Parsons Capital Management Inc. RI cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 112,280 shares of the technology company’s stock after selling 1,099 shares during the quarter. International Business Machines makes up approximately 1.3% of Parsons Capital Management Inc. RI’s portfolio, making the stock its 11th biggest position. Parsons Capital Management Inc. RI’s holdings in International Business Machines were worth $24,682,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Ellenbecker Investment Group grew its position in International Business Machines by 2.3% during the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after buying an additional 46 shares during the period. Goldstein Advisors LLC grew its position in shares of International Business Machines by 4.0% during the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after acquiring an additional 47 shares during the period. Vertex Planning Partners LLC raised its holdings in International Business Machines by 3.6% in the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock worth $298,000 after purchasing an additional 47 shares during the period. Forza Wealth Management LLC boosted its position in International Business Machines by 0.4% during the fourth quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock worth $2,891,000 after purchasing an additional 47 shares in the last quarter. Finally, Sollinda Capital Management LLC grew its holdings in International Business Machines by 3.7% in the third quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after purchasing an additional 49 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IBM has been the topic of several research reports. Morgan Stanley raised their price target on shares of International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. Bank of America raised their target price on shares of International Business Machines from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group increased their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Bernstein Bank boosted their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $220.73.

International Business Machines Stock Performance

NYSE:IBM opened at $224.69 on Monday. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $239.35. The stock has a market cap of $207.75 billion, a P/E ratio of 32.71, a PEG ratio of 4.78 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm has a 50-day moving average of $224.33 and a two-hundred day moving average of $212.82.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.97%. International Business Machines’s dividend payout ratio is presently 97.23%.

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred 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 owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.07% of the stock is owned by company insiders.

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.