Global Trust Asset Management LLC Trims Stock Holdings in International Business Machines Co. (NYSE:IBM)

Global Trust Asset Management LLC lessened its position in shares of International Business Machines Co. (NYSE:IBM) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,699 shares of the technology company’s stock after selling 177 shares during the quarter. Global Trust Asset Management LLC’s holdings in International Business Machines were worth $813,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of IBM. Ellenbecker Investment Group increased its stake in shares of International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after acquiring an additional 46 shares during the period. Goldstein Advisors LLC boosted its position in International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after purchasing an additional 47 shares in the last quarter. Vertex Planning Partners LLC lifted its position in shares of International Business Machines by 3.6% during the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock valued at $298,000 after buying an additional 47 shares in the last quarter. Forza Wealth Management LLC grew its position in shares of International Business Machines by 0.4% in the fourth quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock valued at $2,891,000 after purchasing an additional 47 shares during the period. Finally, Sollinda Capital Management LLC increased its stake in shares of International Business Machines by 3.7% during the third quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock worth $301,000 after purchasing an additional 49 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. Stifel Nicolaus lifted their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Jefferies Financial Group increased their target price on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Finally, The Goldman Sachs Group upped their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $216.87.

Insider Activity

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

International Business Machines Stock Down 0.2 %

Shares of IBM opened at $224.30 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The firm has a market cap of $207.40 billion, a P/E ratio of 32.65, a price-to-earnings-growth ratio of 4.81 and a beta of 0.74. The company’s 50-day moving average price is $223.36 and its 200 day moving average price is $211.82. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $239.35.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $2.20 EPS. On average, sell-side analysts forecast that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.98%. International Business Machines’s dividend payout ratio is currently 97.23%.

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.