Adirondack Trust Co. Cuts Position in International Business Machines Co. (NYSE:IBM)

Adirondack Trust Co. cut its stake in International Business Machines Co. (NYSE:IBM) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,364 shares of the technology company’s stock after selling 126 shares during the period. Adirondack Trust Co.’s holdings in International Business Machines were worth $1,839,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Public Sector Pension Investment Board increased its stake in shares of International Business Machines by 72.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 35,496 shares of the technology company’s stock worth $6,139,000 after purchasing an additional 14,874 shares in the last quarter. Mill Creek Capital Advisors LLC increased its position in International Business Machines by 5.1% during the second quarter. Mill Creek Capital Advisors LLC now owns 1,165 shares of the technology company’s stock worth $201,000 after buying an additional 57 shares in the last quarter. Wescott Financial Advisory Group LLC raised its holdings in shares of International Business Machines by 40.8% in the second quarter. Wescott Financial Advisory Group LLC now owns 2,245 shares of the technology company’s stock worth $388,000 after acquiring an additional 650 shares during the last quarter. Caxton Associates LP acquired a new stake in shares of International Business Machines during the second quarter valued at $5,621,000. Finally, Abich Financial Wealth Management LLC increased its position in International Business Machines by 37.2% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,527 shares of the technology company’s stock worth $264,000 after purchasing an additional 414 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is currently owned by corporate insiders.

International Business Machines Price Performance

Shares of NYSE IBM opened at $223.09 on Thursday. The business has a 50 day moving average price of $223.60 and a two-hundred day moving average price of $211.90. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $239.35. The firm has a market cap of $206.28 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 4.80 and a beta of 0.74. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 earnings per share. Sell-side analysts expect that International Business Machines Co. will post 10.16 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.99%. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Thursday, October 24th. UBS Group boosted their target price on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. Morgan Stanley lifted their price target on shares of International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. Finally, Bernstein Bank upped their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $216.87.

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.