Scotia Capital Inc. Sells 7,919 Shares of International Business Machines Co. (NYSE:IBM)

Scotia Capital Inc. cut its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 7.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,980 shares of the technology company's stock after selling 7,919 shares during the period. Scotia Capital Inc.'s holdings in International Business Machines were worth $21,319,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of IBM. JBR Co Financial Management Inc raised its holdings in International Business Machines by 0.6% during the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company's stock worth $1,405,000 after purchasing an additional 40 shares during the last quarter. Schechter Investment Advisors LLC raised its stake in shares of International Business Machines by 0.7% during the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock worth $1,396,000 after buying an additional 43 shares during the last quarter. Titleist Asset Management LLC grew its stake in International Business Machines by 3.1% in the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock valued at $315,000 after acquiring an additional 43 shares during the last quarter. Callan Capital LLC increased its holdings in International Business Machines by 2.4% during the 4th quarter. Callan Capital LLC now owns 1,870 shares of the technology company's stock valued at $411,000 after acquiring an additional 44 shares in the last quarter. Finally, Marks Group Wealth Management Inc grew its position in shares of International Business Machines by 0.4% in the fourth quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company's stock valued at $2,292,000 after purchasing an additional 45 shares during the last quarter. Institutional investors own 58.96% of the company's stock.

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International Business Machines Price Performance

NYSE:IBM traded up $2.22 during mid-day trading on Monday, reaching $237.70. 1,029,284 shares of the stock were exchanged, compared to its average volume of 4,205,764. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The business has a fifty day moving average price of $249.14 and a 200 day moving average price of $233.02. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $266.45. The firm has a market capitalization of $220.41 billion, a PE ratio of 37.08, a PEG ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping 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 38.99%. Research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given 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 2.81%. International Business Machines's dividend payout ratio is 104.21%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IBM. Jefferies Financial Group reduced their target price 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. Oppenheimer initiated coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price target on the stock. Wedbush began coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an "outperform" rating on the stock. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Finally, JPMorgan Chase & Co. upped their target price 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, January 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $232.75.

Insider Buying and Selling

In other news, SVP Robert David Thomas sold 26,543 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently 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.