Canandaigua National Bank & Trust Co. Sells 253 Shares of International Business Machines Co. (NYSE:IBM)

Canandaigua National Bank & Trust Co. lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,542 shares of the technology company’s stock after selling 253 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in International Business Machines were worth $6,934,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. 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 buying an additional 116 shares during the period. Hara Capital LLC acquired a new stake in shares of International Business Machines in the 3rd quarter valued at about $29,000. Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines during the 2nd quarter worth approximately $36,000. Modus Advisors LLC bought a new position in International Business Machines in the fourth quarter worth approximately $40,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of International Business Machines during the third quarter worth approximately $43,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Price Performance

Shares of NYSE IBM traded up $0.02 during mid-day trading on Monday, reaching $222.67. 2,794,768 shares of the company were exchanged, compared to its average volume of 2,835,568. The stock has a market capitalization of $205.89 billion, a PE ratio of 32.41, a PEG ratio of 5.18 and a beta of 0.74. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 52 week low of $157.88 and a 52 week high of $239.35. The company’s 50 day moving average price is $220.54 and its 200 day moving average price is $207.78.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) 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 return on equity of 40.52% and a net margin of 10.22%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.20 EPS. Sell-side analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.00%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was 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. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Thursday, October 24th. Jefferies Financial Group increased their price objective on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Sanford C. Bernstein upped their price target on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $214.88.

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.