Atlantic Union Bankshares Corp Sells 1,035 Shares of International Business Machines Co. (NYSE:IBM)

Atlantic Union Bankshares Corp lowered its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 13.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 6,418 shares of the technology company's stock after selling 1,035 shares during the quarter. Atlantic Union Bankshares Corp's holdings in International Business Machines were worth $1,411,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Meeder Asset Management Inc. boosted its holdings in 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 acquiring an additional 166 shares in the last quarter. Blue Zone Wealth Advisors LLC bought a new stake in shares of International Business Machines during the 4th quarter valued at about $242,000. Brady Martz Wealth Solutions LLC purchased a new position in shares of International Business Machines during the fourth quarter valued at about $1,940,000. Tranquilli Financial Advisor LLC bought a new position in International Business Machines in the fourth quarter worth about $373,000. Finally, Truist Financial Corp lifted its holdings in International Business Machines by 6.5% in the fourth 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. 58.96% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following 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 SEC, which can be accessed through this hyperlink. Company insiders own 0.07% of the company's stock.

Remove Ads

Analysts Set New Price Targets

A number of research firms have weighed in on IBM. Wedbush assumed coverage on International Business Machines in a report on Monday, February 3rd. They set an "outperform" rating on the stock. Sanford C. Bernstein increased their price objective 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. JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $233.00 to $244.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. BMO Capital Markets increased their price target on shares of International Business Machines from $260.00 to $280.00 and gave the stock a "market perform" rating in a research note on Thursday, January 30th. Finally, UBS Group lifted their price target on shares of International Business Machines from $150.00 to $160.00 and gave the company a "sell" rating in a research report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $231.44.

International Business Machines Stock Performance

NYSE IBM traded down $7.87 during trading hours on Tuesday, hitting $249.03. The company's stock had a trading volume of 5,629,213 shares, compared to its average volume of 3,920,243. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $266.45. The company's 50 day simple moving average is $242.61 and its two-hundred day simple moving average is $227.42. 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 $230.92 billion, a P/E ratio of 38.85, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data 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%. As a group, sell-side analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines's dividend payout ratio (DPR) 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.