Independence Bank of Kentucky Sells 185 Shares of International Business Machines Co. (NYSE:IBM)

Independence Bank of Kentucky decreased its stake in International Business Machines Co. (NYSE:IBM) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,345 shares of the technology company’s stock after selling 185 shares during the period. Independence Bank of Kentucky’s holdings in International Business Machines were worth $1,175,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Hazlett Burt & Watson Inc. increased its position in shares of International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares during the last quarter. Hara Capital LLC acquired a new position in International Business Machines during the third quarter worth $29,000. Avondale Wealth Management raised its position in International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares in the last quarter. Valued Wealth Advisors LLC lifted its stake in International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after acquiring an additional 90 shares during the last quarter. Finally, Modus Advisors LLC bought a new position in shares of International Business Machines in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

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 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 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 filing with the SEC, which is available through this link. 0.07% of the stock is currently owned by insiders.

International Business Machines Price Performance

International Business Machines stock opened at $255.48 on Friday. The firm has a market cap of $236.23 billion, a PE ratio of 39.86, a price-to-earnings-growth ratio of 4.25 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 stock’s fifty day moving average price is $226.61 and its two-hundred day moving average price is $214.36. International Business Machines Co. has a one year low of $162.62 and a one year high of $261.80.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 40.37% and a net margin of 9.60%. As a group, research analysts expect that International Business Machines Co. will post 10.54 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.61%. International Business Machines’s dividend payout ratio is 104.21%.

Wall Street Analysts Forecast Growth

IBM has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Monday, January 27th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Sanford C. Bernstein raised their price target on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $225.53.

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.