Rodgers Brothers Inc. Sells 548 Shares of International Business Machines Co. (NYSE:IBM)

Rodgers Brothers Inc. lessened its position in shares of International Business Machines Co. (NYSE:IBM) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,198 shares of the technology company’s stock after selling 548 shares during the period. Rodgers Brothers Inc.’s holdings in International Business Machines were worth $6,858,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Compass Financial Services Inc bought a new position in International Business Machines during the fourth quarter worth $26,000. Vision Financial Markets LLC bought a new position in shares of International Business Machines during the 4th quarter worth about $31,000. Avondale Wealth Management grew its stake in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after buying an additional 56 shares during the period. Valued Wealth Advisors LLC increased its position in International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after buying an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new position in International Business Machines during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Transactions at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

IBM has been the subject of several recent research reports. Oppenheimer initiated coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price for the company. Sanford C. Bernstein increased their price objective on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Morgan Stanley lifted their target price on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Finally, Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Down 1.0 %

Shares of NYSE IBM opened at $243.83 on Monday. The business’s fifty day moving average price is $249.51 and its 200-day moving average price is $231.62. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45. The stock has a market capitalization of $226.10 billion, a PE ratio of 38.04, a P/E/G ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping 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%. On average, equities research analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given 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 2.74%. International Business Machines’s dividend payout ratio is currently 104.21%.

About International Business Machines

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.