Gallacher Capital Management LLC Sells 321 Shares of International Business Machines Co. (NYSE:IBM)

Gallacher Capital Management LLC decreased its stake in shares of International Business Machines Co. (NYSE:IBM) by 24.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 969 shares of the technology company’s stock after selling 321 shares during the period. Gallacher Capital Management LLC’s holdings in International Business Machines were worth $213,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of IBM. Meeder Asset Management Inc. grew its position in shares of International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares during the last quarter. Blue Zone Wealth Advisors LLC acquired a new stake in International Business Machines during the 4th quarter worth approximately $242,000. Brady Martz Wealth Solutions LLC bought a new stake in International Business Machines in the 4th quarter valued at $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in International Business Machines in the 4th quarter valued at $373,000. Finally, Truist Financial Corp increased its position in International Business Machines by 6.5% during the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after buying an additional 49,591 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by corporate insiders.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $248.15 on Monday. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company has a market cap of $230.10 billion, a price-to-earnings ratio of 38.71, a PEG ratio of 5.81 and a beta of 0.74. The firm has a 50 day simple moving average of $244.23 and a 200 day simple moving average of $228.47.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Research analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.69%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Morgan Stanley upped their price target on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Monday, January 27th. BMO Capital Markets lifted their price target on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Jefferies Financial Group lifted their price objective on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $231.44.

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.