Gilman Hill Asset Management LLC Sells 25,116 Shares of International Business Machines Co. (NYSE:IBM)

Gilman Hill Asset Management LLC lessened its holdings in International Business Machines Co. (NYSE:IBM) by 35.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,145 shares of the technology company’s stock after selling 25,116 shares during the period. International Business Machines comprises approximately 1.8% of Gilman Hill Asset Management LLC’s portfolio, making the stock its 8th biggest position. Gilman Hill Asset Management LLC’s holdings in International Business Machines were worth $10,144,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of IBM. Ellenbecker Investment Group boosted its stake in International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after buying an additional 46 shares in the last quarter. Goldstein Advisors LLC lifted its holdings in shares of International Business Machines by 4.0% in the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after acquiring an additional 47 shares during the last quarter. Vertex Planning Partners LLC boosted its stake in shares of International Business Machines by 3.6% in the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock valued at $298,000 after purchasing an additional 47 shares in the last quarter. Forza Wealth Management LLC grew its holdings in shares of International Business Machines by 0.4% during the 4th quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock valued at $2,891,000 after purchasing an additional 47 shares during the last quarter. Finally, Sollinda Capital Management LLC increased its position in International Business Machines by 3.7% during the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock worth $301,000 after purchasing an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on IBM shares. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. BMO Capital Markets increased their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. UBS Group upped their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Jefferies Financial Group upped their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $216.87.

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Trading Up 0.9 %

Shares of IBM stock opened at $224.73 on Monday. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $239.35. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The stock has a 50 day simple moving average of $222.87 and a two-hundred day simple moving average of $210.89. The company has a market cap of $207.80 billion, a P/E ratio of 32.71, a PEG ratio of 4.71 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 EPS. Research analysts forecast that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

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.