Berkshire Bank Sells 300 Shares of International Business Machines Co. (NYSE:IBM)

Berkshire Bank trimmed its stake in shares of International Business Machines Co. (NYSE:IBM) by 7.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 3,759 shares of the technology company’s stock after selling 300 shares during the quarter. Berkshire Bank’s holdings in International Business Machines were worth $826,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of IBM. Kathmere Capital Management LLC lifted its holdings in shares of International Business Machines by 16.7% during the 2nd quarter. Kathmere Capital Management LLC now owns 1,571 shares of the technology company’s stock worth $272,000 after acquiring an additional 225 shares during the period. Creative Planning raised its position in International Business Machines by 6.5% during the second quarter. Creative Planning now owns 286,063 shares of the technology company’s stock valued at $49,475,000 after purchasing an additional 17,475 shares in the last quarter. Magnolia Capital Advisors LLC bought a new stake in International Business Machines during the second quarter worth $520,000. Silver Lake Advisory LLC boosted its holdings in shares of International Business Machines by 14.2% in the 2nd quarter. Silver Lake Advisory LLC now owns 1,795 shares of the technology company’s stock valued at $310,000 after purchasing an additional 223 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of International Business Machines by 30.9% in the 2nd quarter. NewEdge Advisors LLC now owns 107,524 shares of the technology company’s stock valued at $18,597,000 after purchasing an additional 25,401 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions 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 transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by corporate insiders.

International Business Machines Price Performance

International Business Machines stock opened at $224.06 on Tuesday. The firm has a market cap of $207.18 billion, a P/E ratio of 32.61, a P/E/G ratio of 4.78 and a beta of 0.74. The stock’s 50 day moving average is $224.33 and its 200 day moving average is $212.82. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines Co. has a one year low of $162.62 and a one year high of $239.35.

International Business Machines Announces Dividend

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

Analyst Upgrades and Downgrades

IBM has been the topic of several research analyst reports. The Goldman Sachs Group raised their price objective 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. BMO Capital Markets raised their price target on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Bank of America upped their price objective on shares of International Business Machines from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Morgan Stanley raised their target price on shares of International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Finally, Jefferies Financial Group upped their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $220.73.

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.