MJP Associates Inc. ADV Sells 493 Shares of International Business Machines Co. (NYSE:IBM)

MJP Associates Inc. ADV cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 7.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,473 shares of the technology company’s stock after selling 493 shares during the period. MJP Associates Inc. ADV’s holdings in International Business Machines were worth $1,423,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Treasurer of the State of North Carolina grew its holdings in shares of International Business Machines by 0.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock valued at $108,942,000 after purchasing an additional 4,131 shares during the last quarter. Blue Zone Wealth Advisors LLC bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $242,000. Brady Martz Wealth Solutions LLC bought a new stake in International Business Machines in the fourth quarter worth $1,940,000. Tranquilli Financial Advisor LLC bought a new position in shares of International Business Machines during the fourth quarter valued at $373,000. Finally, Truist Financial Corp boosted its holdings in shares of International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after buying an additional 49,591 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Insider Transactions at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on IBM shares. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Jefferies Financial Group restated a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. UBS Group reaffirmed a “sell” rating and set a $170.00 price target (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. KGI Securities set a $242.00 price target on International Business Machines and gave the company a “hold” rating in a report on Thursday, April 24th. Finally, Oppenheimer began coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus price target of $248.50.

International Business Machines Stock Performance

Shares of IBM stock opened at $249.32 on Monday. The company has a market capitalization of $231.72 billion, a P/E ratio of 38.90, a P/E/G ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a 12-month low of $163.53 and a 12-month high of $266.45. The business’s 50 day moving average is $243.01 and its two-hundred day moving average is $234.91. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.68 earnings per share. Analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.70%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is presently 115.66%.

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.