First Citizens Bank & Trust Co. Trims Stock Position in International Business Machines Co. (NYSE:IBM)

First Citizens Bank & Trust Co. lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,301 shares of the technology company’s stock after selling 1,168 shares during the period. First Citizens Bank & Trust Co.’s holdings in International Business Machines were worth $10,618,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Beaird Harris Wealth Management LLC grew its position in International Business Machines by 67.0% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 1,236 shares of the technology company’s stock worth $214,000 after purchasing an additional 496 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in International Business Machines during the 2nd quarter valued at approximately $7,160,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Business Machines in the 2nd quarter valued at approximately $36,000. Texas Capital Bank Wealth Management Services Inc increased its holdings in shares of International Business Machines by 10.5% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 2,660 shares of the technology company’s stock valued at $460,000 after purchasing an additional 253 shares during the period. Finally, Kathmere Capital Management LLC lifted its holdings in shares of International Business Machines by 16.7% during the second quarter. Kathmere Capital Management LLC now owns 1,571 shares of the technology company’s stock worth $272,000 after purchasing an additional 225 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $224.69 on Friday. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $239.35. The company has a market cap of $207.75 billion, a PE ratio of 32.71, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74. The company has a 50-day simple moving average of $224.33 and a 200-day simple moving average of $212.32. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the previous year, the firm earned $2.20 earnings per share. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. On average, equities analysts anticipate that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Wall Street Analyst Weigh In

IBM has been the topic of several analyst reports. BMO Capital Markets lifted their target price on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. UBS Group increased their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Morgan Stanley upped their price objective on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group increased their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $220.73.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.07% of the company’s stock.

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.