Associated Banc Corp Sells 2,291 Shares of International Business Machines Co. (NYSE:IBM)

Associated Banc Corp lowered its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 12.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,924 shares of the technology company's stock after selling 2,291 shares during the quarter. Associated Banc Corp's holdings in International Business Machines were worth $3,501,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of IBM. Pettinga Financial Advisors LLC acquired a new stake in International Business Machines in the 3rd quarter valued at approximately $221,000. United Bank raised its position in International Business Machines by 53.3% in the 3rd quarter. United Bank now owns 5,628 shares of the technology company's stock valued at $1,244,000 after buying an additional 1,956 shares during the last quarter. OneDigital Investment Advisors LLC raised its position in International Business Machines by 17.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 26,017 shares of the technology company's stock valued at $5,752,000 after buying an additional 3,789 shares during the last quarter. CIBC Asset Management Inc raised its position in International Business Machines by 8.3% in the 3rd quarter. CIBC Asset Management Inc now owns 168,271 shares of the technology company's stock valued at $37,201,000 after buying an additional 12,865 shares during the last quarter. Finally, KCM Investment Advisors LLC raised its position in International Business Machines by 1.5% in the 3rd quarter. KCM Investment Advisors LLC now owns 8,727 shares of the technology company's stock valued at $1,929,000 after buying an additional 132 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

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Analyst Upgrades and Downgrades

IBM has been the topic of a number of recent research reports. Oppenheimer began coverage on International Business Machines in a research report on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of International Business Machines in a research report on Wednesday, February 5th. Wedbush began coverage on International Business Machines in a research report on Monday, February 3rd. They set an "outperform" rating on the stock. Finally, UBS Group boosted their price target on International Business Machines from $150.00 to $160.00 and gave the stock a "sell" rating in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $231.44.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction 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. This represents a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.07% of the company's stock.

International Business Machines Stock Performance

IBM traded up $2.35 during trading hours on Friday, reaching $248.15. The company's stock had a trading volume of 4,045,157 shares, compared to its average volume of 3,889,906. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The company's 50-day moving average is $244.23 and its 200-day moving average is $228.26. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. The firm has a market cap of $230.10 billion, a PE ratio of 38.71, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM - Get Free Report) last issued 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%. On average, equities analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Monday, February 10th. International Business Machines's dividend payout ratio is 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.