Federated Hermes Inc. Sells 35,040 Shares of International Business Machines Co. (NYSE:IBM)

Federated Hermes Inc. trimmed its stake in International Business Machines Co. (NYSE:IBM) by 24.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,997 shares of the technology company’s stock after selling 35,040 shares during the period. Federated Hermes Inc.’s holdings in International Business Machines were worth $23,741,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Compass Financial Services Inc purchased a new stake in shares of International Business Machines during the fourth quarter valued at about $26,000. Vision Financial Markets LLC bought a new position in shares of International Business Machines during the 4th quarter worth approximately $31,000. Avondale Wealth Management lifted its position in International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares during the last quarter. Valued Wealth Advisors LLC grew its holdings in International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after purchasing an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC acquired a new position in shares of International Business Machines during the fourth quarter worth $35,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the transaction, the senior vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

International Business Machines Price Performance

NYSE:IBM opened at $220.07 on Wednesday. The firm’s fifty day moving average is $251.20 and its two-hundred day moving average is $232.67. The firm has a market cap of $204.06 billion, a price-to-earnings ratio of 34.33, a PEG ratio of 5.81 and a beta of 0.67. 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 quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping 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 expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

Analysts Set New Price Targets

Several analysts have recently commented on IBM shares. Jefferies Financial Group lowered their price objective on International Business Machines from $270.00 to $265.00 and set a “hold” rating for the company in a research report on Monday, March 31st. Sanford C. Bernstein raised their price target on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Finally, Oppenheimer began coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $231.13.

About International Business Machines

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.