FineMark National Bank & Trust Increases Stock Position in International Business Machines Co. (NYSE:IBM)

FineMark National Bank & Trust lifted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,269 shares of the technology company’s stock after buying an additional 143 shares during the period. FineMark National Bank & Trust’s holdings in International Business Machines were worth $2,038,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of IBM. Vanguard Group Inc. raised its position in International Business Machines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock worth $20,189,023,000 after acquiring an additional 1,539,888 shares in the last quarter. State Street Corp grew its stake in shares of International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of International Business Machines by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company’s stock valued at $1,465,223,000 after purchasing an additional 126,547 shares during the period. FMR LLC lifted its stake in shares of International Business Machines by 6.0% in the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after purchasing an additional 294,276 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in International Business Machines during the fourth quarter worth about $592,746,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

International Business Machines stock opened at $250.01 on Wednesday. The stock has a fifty day moving average price of $248.04 and a 200 day moving average price of $230.76. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. The firm has a market capitalization of $231.83 billion, a P/E ratio of 39.00, a PEG ratio of 5.81 and a beta of 0.74. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data 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 net margin of 9.60% and a return on equity of 38.99%. Equities research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

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. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.67%. International Business Machines’s dividend payout ratio is presently 104.21%.

Insider Transactions at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated 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 transaction, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

IBM has been the subject of a number of research reports. Sanford C. Bernstein lifted their price target on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. boosted their target price on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Morgan Stanley upped their target price on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Wedbush started coverage on shares of International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $231.44.

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.