Patten Group Inc. Decreases Holdings in International Business Machines Co. (NYSE:IBM)

Patten Group Inc. reduced its stake in International Business Machines Co. (NYSE:IBM) by 0.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,765 shares of the technology company’s stock after selling 68 shares during the quarter. Patten Group Inc.’s holdings in International Business Machines were worth $2,147,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Compass Financial Services Inc purchased a new position in International Business Machines in the fourth quarter valued at about $26,000. Hazlett Burt & Watson Inc. lifted its stake in International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares during the last quarter. Hara Capital LLC bought a new position in International Business Machines during the third quarter valued at $29,000. Avondale Wealth Management increased its position in International Business Machines by 56.0% in the fourth 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 last quarter. Finally, Valued Wealth Advisors LLC raised its stake in shares of International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after buying an additional 90 shares during the period. Institutional investors own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

IBM has been the subject of several research reports. Wedbush assumed coverage on International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating for the company. UBS Group increased their target price on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Oppenheimer assumed coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective for the company. Finally, BMO Capital Markets boosted their target price on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Performance

NYSE:IBM opened at $250.04 on Tuesday. The stock has a market cap of $231.85 billion, a P/E ratio of 39.01, a PEG ratio of 5.81 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The business’s 50-day moving average price is $238.93 and its two-hundred day moving average price is $224.98. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $265.72.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, equities analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a $1.67 dividend. The ex-dividend date is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.67%. 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.