Zions Bancorporation N.A. Sells 2,229 Shares of International Business Machines Co. (NYSE:IBM)

Zions Bancorporation N.A. cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 68.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,039 shares of the technology company’s stock after selling 2,229 shares during the quarter. Zions Bancorporation N.A.’s holdings in International Business Machines were worth $228,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. JBR Co Financial Management Inc raised its position in shares of International Business Machines by 0.6% during the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock valued at $1,405,000 after purchasing an additional 40 shares during the period. Schechter Investment Advisors LLC raised its holdings in International Business Machines by 0.7% during the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock valued at $1,396,000 after acquiring an additional 43 shares during the period. Callan Capital LLC raised its holdings in International Business Machines by 2.4% during the fourth quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock valued at $411,000 after acquiring an additional 44 shares during the period. Marks Group Wealth Management Inc boosted its stake in shares of International Business Machines by 0.4% in the fourth quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock worth $2,292,000 after acquiring an additional 45 shares during the period. Finally, Tower Wealth Partners Inc. grew its position in shares of International Business Machines by 1.9% during the fourth quarter. Tower Wealth Partners Inc. now owns 2,376 shares of the technology company’s stock worth $522,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday, March 15th. 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. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Bank of America increased their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Morgan Stanley lifted their target price on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $231.44.

International Business Machines Trading Up 0.1 %

IBM stock opened at $250.26 on Thursday. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $266.45. The stock has a market capitalization of $232.06 billion, a price-to-earnings ratio of 39.04, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The firm’s fifty day simple moving average is $248.65 and its two-hundred day simple moving average is $230.90.

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

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

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.