GTS Securities LLC Sells 15,922 Shares of International Business Machines Co. (NYSE:IBM)

GTS Securities LLC reduced its stake in International Business Machines Co. (NYSE:IBM) by 63.1% during the 4th quarter, Holdings Channel reports. The fund owned 9,308 shares of the technology company’s stock after selling 15,922 shares during the period. GTS Securities LLC’s holdings in International Business Machines were worth $2,046,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Treasurer of the State of North Carolina raised its holdings in International Business Machines by 0.8% in 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 acquiring an additional 4,131 shares during the period. Blue Zone Wealth Advisors LLC bought a new position in International Business Machines in the 4th quarter valued at about $242,000. Tranquilli Financial Advisor LLC bought a new position in International Business Machines in the 4th quarter valued at about $373,000. Truist Financial Corp increased its holdings in shares of International Business Machines by 6.5% during the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after purchasing an additional 49,591 shares during the period. Finally, Mufg Securities Americas Inc. bought a new position in shares of International Business Machines during the fourth quarter worth approximately $3,000,000. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IBM has been the topic of several recent research reports. Morgan Stanley lowered their target price on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. raised their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Royal Bank of Canada raised their target price on shares of International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Finally, KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $249.06.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. The trade was a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $258.79 on Friday. The company’s 50 day simple moving average is $245.13 and its 200 day simple moving average is $238.19. The stock has a market capitalization of $240.52 billion, a price-to-earnings ratio of 40.37, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a 1 year low of $163.53 and a 1 year high of $269.28.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The company’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.68 earnings per share. As a group, research analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.60%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio 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.