Foster & Motley Inc. Sells 1,134 Shares of International Business Machines Co. (NYSE:IBM)

Foster & Motley Inc. reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,315 shares of the technology company’s stock after selling 1,134 shares during the period. Foster & Motley Inc.’s holdings in International Business Machines were worth $8,203,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. raised its position in shares of International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after acquiring an additional 166 shares during the last quarter. Brady Martz Wealth Solutions LLC acquired a new stake in International Business Machines during the 4th quarter valued at approximately $1,940,000. Philip James Wealth Mangement LLC bought a new position in International Business Machines during the 3rd quarter worth approximately $5,117,000. Nordea Investment Management AB lifted its position in shares of International Business Machines by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after purchasing an additional 4,625 shares during the period. Finally, M.E. Allison & CO. Inc. bought a new stake in shares of International Business Machines in the 4th quarter valued at $1,034,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at International Business Machines

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

International Business Machines Stock Performance

Shares of IBM stock opened at $229.13 on Thursday. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $239.35. The firm has a market capitalization of $211.86 billion, a PE ratio of 33.35, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74. The firm has a fifty day simple moving average of $224.95 and a two-hundred day simple moving average of $213.44. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. Analysts forecast that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.92%. International Business Machines’s dividend payout ratio is presently 97.23%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Bernstein Bank lifted their target price on shares of 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. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. UBS Group boosted their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. raised their target price on International Business Machines from $227.00 to $233.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Finally, StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Two 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.