Legacy Private Trust Co. Acquires 75 Shares of International Business Machines Co. (NYSE:IBM)

Legacy Private Trust Co. raised its holdings in International Business Machines Co. (NYSE:IBM) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,070 shares of the technology company’s stock after buying an additional 75 shares during the quarter. Legacy Private Trust Co.’s holdings in International Business Machines were worth $675,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Lantz Financial LLC raised its position in shares of International Business Machines by 0.9% in the 2nd quarter. Lantz Financial LLC now owns 11,935 shares of the technology company’s stock worth $2,064,000 after acquiring an additional 107 shares in the last quarter. LGT Fund Management Co Ltd. bought a new stake in shares of International Business Machines during the 2nd quarter valued at $259,000. Gryphon Financial Partners LLC grew its position in shares of International Business Machines by 3.8% in the 2nd quarter. Gryphon Financial Partners LLC now owns 2,630 shares of the technology company’s stock worth $455,000 after buying an additional 97 shares during the period. MGO One Seven LLC increased its stake in shares of International Business Machines by 6.7% in the 2nd quarter. MGO One Seven LLC now owns 25,471 shares of the technology company’s stock worth $4,405,000 after acquiring an additional 1,593 shares in the last quarter. Finally, Carson Advisory Inc. lifted its position in International Business Machines by 1.5% during the 2nd quarter. Carson Advisory Inc. now owns 14,880 shares of the technology company’s stock valued at $2,574,000 after acquiring an additional 216 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Bank of America upped their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. Jefferies Financial Group boosted their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. The Goldman Sachs Group raised their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Morgan Stanley upped their price target on shares of International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. 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 MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $214.88.

Insider Activity

In related 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 value of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.07% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM opened at $223.15 on Thursday. International Business Machines Co. has a one year low of $159.51 and a one year high of $239.35. The business has a fifty day moving average of $221.37 and a 200 day moving average of $208.59. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm has a market capitalization of $206.33 billion, a P/E ratio of 32.48, a PEG ratio of 5.18 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 EPS. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

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.