OLD Point Trust & Financial Services N A Trims Stake in International Business Machines Co. (NYSE:IBM)

OLD Point Trust & Financial Services N A lowered its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,145 shares of the technology company's stock after selling 1,064 shares during the period. International Business Machines accounts for approximately 1.2% of OLD Point Trust & Financial Services N A's portfolio, making the stock its 26th largest holding. OLD Point Trust & Financial Services N A's holdings in International Business Machines were worth $3,329,000 as of its most recent SEC filing.

Several other institutional investors 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 in the fourth quarter worth $26,000. Vision Financial Markets LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth $31,000. Avondale Wealth Management raised its position in shares of International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company's stock worth $34,000 after buying an additional 56 shares in the last quarter. Valued Wealth Advisors LLC raised its position in shares of 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 buying an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

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International Business Machines Trading Up 0.2 %

Shares of NYSE:IBM traded up $0.43 on Friday, reaching $243.75. 9,566,862 shares of the company traded hands, compared to its average volume of 3,900,703. The business's 50-day simple moving average is $246.77 and its 200 day simple moving average is $230.09. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. The stock has a market capitalization of $226.02 billion, a P/E ratio of 38.03, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. 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 posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (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, equities analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced 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 of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.74%. International Business Machines's payout ratio is presently 104.21%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IBM. BMO Capital Markets increased their price objective on International Business Machines from $260.00 to $280.00 and gave the stock a "market perform" rating in a research report on Thursday, January 30th. Bank of America raised their price target on International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. StockNews.com downgraded International Business Machines from a "buy" rating to a "hold" rating in a research report on Saturday, March 15th. Morgan Stanley raised their price target on International Business Machines from $217.00 to $228.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of International Business Machines in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, International Business Machines currently has a consensus rating of "Hold" and a consensus target price of $231.44.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of the firm's 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 $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by insiders.

International Business Machines Company 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.