Heritage Trust Co Takes Position in International Business Machines Co. (NYSE:IBM)

Heritage Trust Co acquired a new position in shares of International Business Machines Co. (NYSE:IBM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,777 shares of the technology company's stock, valued at approximately $1,270,000.

Several other hedge funds have also recently bought and sold shares of IBM. Jaffetilchin Investment Partners LLC lifted its position in shares of International Business Machines by 1.7% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 16,892 shares of the technology company's stock valued at $3,713,000 after acquiring an additional 276 shares in the last quarter. Argent Trust Co raised its position in shares of International Business Machines by 0.5% in the fourth quarter. Argent Trust Co now owns 109,570 shares of the technology company's stock valued at $24,087,000 after buying an additional 534 shares during the last quarter. First Foundation Advisors lifted its stake in shares of International Business Machines by 2.6% during the 4th quarter. First Foundation Advisors now owns 2,941 shares of the technology company's stock worth $647,000 after purchasing an additional 75 shares during the period. Blue Edge Capital LLC grew its position in shares of International Business Machines by 2.0% in the fourth quarter. Blue Edge Capital LLC now owns 6,737 shares of the technology company's stock valued at $1,481,000 after purchasing an additional 135 shares during the period. Finally, Treasurer of the State of North Carolina boosted its stake in International Business Machines by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after buying an additional 4,131 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of research firms have recently commented on IBM. Royal Bank of Canada reissued an "outperform" rating and set a $276.00 target price on shares of International Business Machines in a research report on Monday. JPMorgan Chase & Co. lifted their price target on shares of International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Sanford C. Bernstein lifted their price target on International Business Machines from $210.00 to $215.00 and gave the stock a "market perform" rating in a research note on Friday, January 3rd. Finally, Wedbush began coverage on International Business Machines in a report on Monday, February 3rd. They set an "outperform" rating on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $232.75.

International Business Machines Price Performance

IBM stock traded up $1.67 during trading hours on Tuesday, hitting $240.73. 3,262,444 shares of the stock traded hands, compared to its average volume of 4,877,795. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45. The company has a market cap of $223.22 billion, a P/E ratio of 37.55, a P/E/G ratio of 5.81 and a beta of 0.67. The stock has a 50-day simple moving average of $248.67 and a 200 day simple moving average of $233.14. 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 (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating analysts' consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Equities analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.77%. International Business Machines's dividend payout ratio is currently 104.21%.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company's stock.

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.