1620 Investment Advisors Inc. Sells 154 Shares of International Business Machines Co. (NYSE:IBM)

1620 Investment Advisors Inc. lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,340 shares of the technology company’s stock after selling 154 shares during the quarter. International Business Machines accounts for approximately 0.9% of 1620 Investment Advisors Inc.’s investment portfolio, making the stock its 22nd biggest holding. 1620 Investment Advisors Inc.’s holdings in International Business Machines were worth $1,174,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. JBR Co Financial Management Inc lifted its holdings in International Business Machines by 0.6% during the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock valued at $1,405,000 after purchasing an additional 40 shares during the last quarter. Schechter Investment Advisors LLC lifted its holdings in International Business Machines by 0.7% during the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock valued at $1,396,000 after purchasing an additional 43 shares during the last quarter. Callan Capital LLC lifted its holdings in International Business Machines by 2.4% during the fourth quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock valued at $411,000 after purchasing an additional 44 shares during the last quarter. Marks Group Wealth Management Inc increased its position in shares of International Business Machines by 0.4% during the fourth quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock valued at $2,292,000 after buying an additional 45 shares during the period. Finally, Tower Wealth Partners Inc. increased its position in shares of International Business Machines by 1.9% during the fourth quarter. Tower Wealth Partners Inc. now owns 2,376 shares of the technology company’s stock valued at $522,000 after buying an additional 45 shares during the period. Institutional investors own 58.96% of the company’s stock.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on IBM shares. JPMorgan Chase & Co. upped their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Jefferies Financial Group upped their price target on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Oppenheimer started coverage on International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Finally, Sanford C. Bernstein upped their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Stock Down 3.5 %

Shares of NYSE IBM opened at $243.42 on Friday. The stock has a market capitalization of $225.71 billion, a P/E ratio of 37.98, a PEG ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a one year low of $162.62 and a one year 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. The firm’s 50 day simple moving average is $246.29 and its two-hundred day simple moving average is $229.42.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating 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%. As a group, analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 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.