Stock Yards Bank & Trust Co. Sells 3,894 Shares of International Business Machines Co. (NYSE:IBM)

Stock Yards Bank & Trust Co. cut its position in International Business Machines Co. (NYSE:IBM) by 14.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,982 shares of the technology company’s stock after selling 3,894 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in International Business Machines were worth $3,922,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Naples Money Management LLC acquired a new stake in International Business Machines during the 4th quarter valued at $28,000. Briaud Financial Planning Inc acquired a new stake in International Business Machines during the 3rd quarter valued at $31,000. Stone House Investment Management LLC lifted its holdings in International Business Machines by 971.4% during the 3rd 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 last quarter. Financial Gravity Asset Management Inc. lifted its holdings 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 valued at $32,000 after purchasing an additional 91 shares during the last quarter. Finally, Cordant Inc. lifted its holdings in International Business Machines by 753.3% during the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after purchasing an additional 226 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Up 0.2 %

IBM stock opened at $181.94 on Tuesday. The company has a market cap of $166.79 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 3.57 and a beta of 0.70. The business has a 50-day simple moving average of $188.38 and a 200 day simple moving average of $169.59. International Business Machines Co. has a 52 week low of $120.55 and a 52 week high of $199.18. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, beating analysts’ consensus estimates of $3.78 by $0.09. The business had revenue of $17.38 billion during the quarter, compared to the consensus estimate of $17.29 billion. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. International Business Machines’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.60 earnings per share. Sell-side analysts anticipate that International Business Machines Co. will post 10.04 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were given a $1.66 dividend. This represents a $6.64 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio is presently 81.67%.

Analyst Ratings Changes

IBM has been the subject of several research reports. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Tuesday. Sanford C. Bernstein lifted their target price on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Royal Bank of Canada lifted their target price on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Bank of America lifted their target price on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Finally, Evercore ISI raised International Business Machines from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $174.92.

International Business Machines 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.