Radnor Capital Management LLC Sells 2,570 Shares of International Business Machines Co. (NYSE:IBM)

Radnor Capital Management LLC decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 3.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 63,281 shares of the technology company’s stock after selling 2,570 shares during the quarter. International Business Machines accounts for about 2.3% of Radnor Capital Management LLC’s holdings, making the stock its 6th biggest holding. Radnor Capital Management LLC’s holdings in International Business Machines were worth $13,911,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Meeder Asset Management Inc. boosted its position in International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after acquiring an additional 166 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in International Business Machines in the 2nd quarter valued at about $7,160,000. Philip James Wealth Mangement LLC acquired a new position in International Business Machines during the 3rd quarter valued at about $5,117,000. Nordea Investment Management AB raised its position in shares of International Business Machines by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after buying an additional 4,625 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of International Business Machines in the third quarter valued at approximately $24,761,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM opened at $217.54 on Wednesday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $239.35. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a market capitalization of $201.15 billion, a P/E ratio of 31.67, a PEG ratio of 5.18 and a beta of 0.74. The stock has a fifty day moving average of $222.34 and a 200-day moving average of $210.16.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 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 analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $2.20 EPS. Equities analysts forecast that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Analysts Set New Price Targets

Several brokerages recently commented on IBM. BMO Capital Markets boosted their target price on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Thursday, October 24th. The Goldman Sachs Group raised their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Jefferies Financial Group boosted their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Finally, UBS Group raised their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $215.81.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction 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 transaction, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

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.