Oakworth Capital Inc. Cuts Stock Position in International Business Machines Co. (NYSE:IBM)

Oakworth Capital Inc. trimmed its position in shares of International Business Machines Co. (NYSE:IBM) by 26.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,753 shares of the technology company’s stock after selling 625 shares during the quarter. Oakworth Capital Inc.’s holdings in International Business Machines were worth $287,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC acquired a new position in shares of International Business Machines in the second quarter valued at approximately $28,000. Live Oak Investment Partners purchased a new stake in shares of International Business Machines during the fourth quarter worth $30,000. Briaud Financial Planning Inc acquired a new stake in shares of International Business Machines in the third quarter valued at $31,000. Stone House Investment Management LLC boosted its holdings in International Business Machines by 971.4% in the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 204 shares during the period. Finally, Financial Gravity Asset Management Inc. grew its stake in International Business Machines by 67.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 91 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Down 0.4 %

International Business Machines stock opened at $183.05 on Thursday. The company has a market capitalization of $167.81 billion, a P/E ratio of 22.52, a PEG ratio of 3.60 and a beta of 0.70. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.93 and a current ratio of 0.96. International Business Machines Co. has a fifty-two week low of $120.55 and a fifty-two week high of $199.18. The stock has a 50-day simple moving average of $188.61 and a 200-day simple moving average of $168.54.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 earnings per share for the quarter, beating analysts’ consensus estimates of $3.78 by $0.09. The company had revenue of $17.38 billion during the quarter, compared to analysts’ expectations of $17.29 billion. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.60 earnings per share. Equities research analysts expect that International Business Machines Co. will post 10.07 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were given a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a yield of 3.63%. The ex-dividend date was Thursday, February 8th. International Business Machines’s payout ratio is currently 81.67%.

Analyst Ratings Changes

A number of research firms have issued reports on IBM. Bank of America increased their price target on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Evercore ISI upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Stifel Nicolaus restated a “buy” rating and issued a $190.00 price objective on shares of International Business Machines in a report on Wednesday. Societe Generale reiterated a “sell” rating and set a $143.00 target price on shares of International Business Machines in a research note on Friday, January 5th. Finally, Evercore raised International Business Machines from an “in-line” rating to an “outperform” rating and increased their target price for the company from $165.00 to $200.00 in a report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $178.67.

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.