Riggs Asset Managment Co. Inc. Lowers Holdings in International Business Machines Co. (NYSE:IBM)

Riggs Asset Managment Co. Inc. decreased its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 30.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,830 shares of the technology company's stock after selling 5,542 shares during the period. Riggs Asset Managment Co. Inc.'s holdings in International Business Machines were worth $2,826,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Round Rock Advisors LLC boosted its stake in International Business Machines by 5.2% in the 4th quarter. Round Rock Advisors LLC now owns 14,333 shares of the technology company's stock worth $3,151,000 after purchasing an additional 711 shares during the period. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of International Business Machines by 2.4% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 76,886 shares of the technology company's stock worth $16,902,000 after buying an additional 1,837 shares in the last quarter. MA Private Wealth boosted its position in shares of International Business Machines by 63.5% during the fourth quarter. MA Private Wealth now owns 2,131 shares of the technology company's stock worth $468,000 after acquiring an additional 828 shares during the last quarter. Golden State Equity Partners grew its stake in International Business Machines by 352.5% during the fourth quarter. Golden State Equity Partners now owns 11,859 shares of the technology company's stock valued at $2,607,000 after acquiring an additional 9,238 shares in the last quarter. Finally, Berry Wealth Group LP increased its holdings in International Business Machines by 6.8% in the 4th quarter. Berry Wealth Group LP now owns 1,380 shares of the technology company's stock valued at $303,000 after acquiring an additional 88 shares during the last quarter. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Down 1.1 %

Shares of NYSE IBM opened at $255.48 on Friday. The firm has a 50-day simple moving average of $226.61 and a two-hundred day simple moving average of $214.56. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $261.80. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The company has a market cap of $236.23 billion, a P/E ratio of 39.86, a PEG ratio of 4.25 and a beta of 0.74.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 40.37%. Research analysts anticipate that International Business Machines Co. will post 10.54 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines's dividend payout ratio is 104.21%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IBM shares. BMO Capital Markets raised their price objective on International Business Machines from $260.00 to $280.00 and gave the company a "market perform" rating in a research report on Thursday. Stifel Nicolaus raised their price target on International Business Machines from $205.00 to $246.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Bank of America upped their price objective on International Business Machines from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday. Jefferies Financial Group raised their target price on shares of International Business Machines from $245.00 to $270.00 and gave the company a "hold" rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a "neutral" rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, International Business Machines presently has a consensus rating of "Hold" and an average price target of $225.53.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares of the company's stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.07% 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.

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