Texas Capital Bank Wealth Management Services Inc Lowers Stock Holdings in International Business Machines Co. (NYSE:IBM)

Texas Capital Bank Wealth Management Services Inc cut its position in International Business Machines Co. (NYSE:IBM - Free Report) by 57.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,059 shares of the technology company's stock after selling 1,427 shares during the period. Texas Capital Bank Wealth Management Services Inc's holdings in International Business Machines were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Compass Financial Services Inc acquired a new stake in International Business Machines during the fourth quarter worth approximately $26,000. Vision Financial Markets LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at $31,000. Avondale Wealth Management raised its holdings 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 valued at $34,000 after buying an additional 56 shares during the last quarter. Valued Wealth Advisors LLC grew its holdings in shares of International Business Machines by 134.3% during 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 during the last quarter. Finally, Rialto Wealth Management LLC acquired a new position in International Business Machines in the 4th quarter valued at about $35,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IBM. UBS Group lifted their target price on International Business Machines from $150.00 to $160.00 and gave the company a "sell" rating in a research note on Tuesday, January 14th. Royal Bank of Canada reissued an "outperform" rating and issued a $276.00 price objective on shares of International Business Machines in a research note on Monday. Jefferies Financial Group reduced their target price on shares of International Business Machines from $270.00 to $265.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Bank of America boosted their price target on shares of International Business Machines from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Finally, Morgan Stanley raised their price objective on shares of 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, International Business Machines presently has a consensus rating of "Hold" and a consensus price target of $232.75.

International Business Machines Price Performance

NYSE IBM traded up $0.81 during trading hours on Tuesday, reaching $239.87. The company's stock had a trading volume of 946,718 shares, compared to its average volume of 4,202,066. 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 stock has a market cap of $222.42 billion, a PE ratio of 37.42, a PEG ratio of 5.81 and a beta of 0.67. The company's 50-day moving average is $248.67 and its two-hundred day moving average is $233.14. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $266.45.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data 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%. Analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors 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 yield of 2.78%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines's dividend payout ratio 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.