Cadence Bank Lowers Holdings in International Business Machines Co. (NYSE:IBM)

Cadence Bank reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 0.8% during the 4th quarter, HoldingsChannel reports. The firm owned 47,822 shares of the technology company’s stock after selling 366 shares during the period. International Business Machines comprises about 0.7% of Cadence Bank’s investment portfolio, making the stock its 28th largest holding. Cadence Bank’s holdings in International Business Machines were worth $10,513,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Passumpsic Savings Bank grew its holdings in International Business Machines by 3.8% during the 3rd quarter. Passumpsic Savings Bank now owns 2,045 shares of the technology company’s stock worth $452,000 after acquiring an additional 74 shares in the last quarter. Virtu Financial LLC purchased a new position in International Business Machines during the third quarter valued at approximately $766,000. Westside Investment Management Inc. raised its stake in International Business Machines by 12.2% in the third quarter. Westside Investment Management Inc. now owns 919 shares of the technology company’s stock worth $188,000 after buying an additional 100 shares in the last quarter. SOA Wealth Advisors LLC. lifted its holdings in International Business Machines by 4.6% during the third quarter. SOA Wealth Advisors LLC. now owns 3,140 shares of the technology company’s stock worth $694,000 after buying an additional 139 shares during the period. Finally, Diamant Asset Management Inc. boosted its position in International Business Machines by 11.0% during the 3rd quarter. Diamant Asset Management Inc. now owns 1,610 shares of the technology company’s stock valued at $356,000 after acquiring an additional 160 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Performance

IBM opened at $238.45 on Friday. The firm has a 50 day moving average of $247.94 and a two-hundred day moving average of $233.36. The firm has a market capitalization of $221.10 billion, a PE ratio of 37.20, a P/E/G ratio of 5.81 and a beta of 0.67. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating 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%. On average, analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Insider Buying and Selling 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. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

IBM has been the subject of several recent research reports. Wedbush began coverage on International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating for the company. Jefferies Financial Group decreased their price target on shares of 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. UBS Group boosted their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Oppenheimer started coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price for the company. Finally, StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday, March 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $232.75.

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.