Synovus Financial Corp Decreases Stake in International Business Machines Co. (NYSE:IBM)

Synovus Financial Corp cut its stake in International Business Machines Co. (NYSE:IBM - Free Report) by 11.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,947 shares of the technology company's stock after selling 10,382 shares during the period. Synovus Financial Corp's holdings in International Business Machines were worth $17,797,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IBM. Compass Financial Services Inc bought a new stake in International Business Machines during the fourth quarter worth about $26,000. Vision Financial Markets LLC bought a new stake in International Business Machines in the fourth quarter valued at approximately $31,000. Avondale Wealth Management raised its stake in International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company's stock worth $34,000 after buying an additional 56 shares during the period. Valued Wealth Advisors LLC increased its stake in International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock worth $35,000 after purchasing an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC bought a new position in International Business Machines during the 4th quarter worth about $35,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IBM. Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. StockNews.com cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Saturday, March 15th. 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 initiated coverage on International Business Machines in a research report on Tuesday, February 11th. They set an "outperform" rating and a $320.00 target price on the stock. Finally, Jefferies Financial Group lowered their price objective on shares of International Business Machines from $270.00 to $265.00 and set a "hold" rating on the stock in a report on Monday, March 31st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, International Business Machines has a consensus rating of "Hold" and an average price target of $232.75.

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Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the firm's stock in a transaction dated 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 transaction, the senior vice president now directly owns 45,007 shares of the company's stock, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by company insiders.

International Business Machines Stock Performance

NYSE:IBM traded up $1.78 during mid-day trading on Tuesday, hitting $240.84. The company's stock had a trading volume of 153,973 shares, compared to its average volume of 4,198,792. The business's fifty day moving average is $248.67 and its two-hundred day moving average is $233.14. The stock has a market cap of $223.33 billion, a price-to-earnings ratio of 37.51, a PEG ratio of 5.81 and a beta of 0.67. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly 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 return on equity of 38.99% and a net margin of 9.60%. Analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Monday, February 10th. International Business Machines's dividend payout ratio (DPR) is presently 104.21%.

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.