Busey Bank Has $4.59 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Busey Bank reduced its position in International Business Machines Co. (NYSE:IBM) by 1.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 20,877 shares of the technology company’s stock after selling 258 shares during the period. Busey Bank’s holdings in International Business Machines were worth $4,589,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in IBM. Hazlett Burt & Watson Inc. increased its stake in shares of International Business Machines by 1,054.5% in the 3rd 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 during the third quarter worth $29,000. Avondale Wealth Management grew its stake in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares during the period. Valued Wealth Advisors LLC grew its stake in shares of International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after purchasing an additional 90 shares during the period. Finally, Modus Advisors LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth $40,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of NYSE IBM opened at $229.13 on Thursday. The business’s 50 day moving average price is $224.95 and its two-hundred day moving average price is $213.44. The company has a market cap of $211.87 billion, a PE ratio of 33.35, a price-to-earnings-growth ratio of 4.78 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 twelve month low of $162.62 and a twelve month high of $239.35.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. On average, analysts predict that International Business Machines Co. will post 10.16 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.07% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IBM. Jefferies Financial Group lifted 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. Bernstein Bank lifted their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. UBS Group lifted their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Morgan Stanley boosted their target price on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $221.13.

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.