Allegheny Financial Group Sells 2,559 Shares of International Business Machines Co. (NYSE:IBM)

Allegheny Financial Group reduced its position in International Business Machines Co. (NYSE:IBM - Free Report) by 16.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,557 shares of the technology company's stock after selling 2,559 shares during the quarter. International Business Machines makes up about 0.7% of Allegheny Financial Group's investment portfolio, making the stock its 26th biggest holding. Allegheny Financial Group's holdings in International Business Machines were worth $2,760,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of IBM. Compass Financial Services Inc bought a new stake in International Business Machines in the fourth quarter valued at $26,000. Vision Financial Markets LLC bought a new stake in International Business Machines during the 4th quarter valued at $31,000. Avondale Wealth Management grew its stake in shares of International Business Machines by 56.0% in 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 in the last quarter. Valued Wealth Advisors LLC increased its holdings 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 valued at $35,000 after purchasing an additional 90 shares during the period. Finally, Rialto Wealth Management LLC acquired a new stake in International Business Machines in the fourth quarter worth about $35,000. Institutional investors own 58.96% of the company's stock.

Insiders Place Their Bets

In related news, SVP Robert David Thomas sold 26,543 shares of the business's stock in a transaction dated 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.18% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on IBM shares. Royal Bank of Canada restated an "outperform" rating and issued a $276.00 price objective on shares of International Business Machines in a report on Monday, April 14th. Morgan Stanley cut their target price on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Oppenheimer began coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price target on the stock. Sanford C. Bernstein raised their price objective on International Business Machines from $210.00 to $215.00 and gave the stock a "market perform" rating in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. boosted their target price on International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $248.50.

International Business Machines Stock Up 2.4 %

IBM stock traded up $5.83 during trading hours on Friday, hitting $245.49. The company's stock had a trading volume of 3,731,241 shares, compared to its average volume of 4,210,203. The stock has a 50 day moving average price of $243.19 and a two-hundred day moving average price of $234.15. International Business Machines Co. has a 12 month low of $163.53 and a 12 month high of $266.45. The company has a market capitalization of $228.16 billion, a PE ratio of 38.30, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly 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. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The company had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. During the same quarter in the previous year, the firm earned $1.68 earnings per share. The business's quarterly revenue was up .5% compared to the same quarter last year. On average, equities research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be issued a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.74%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is 115.66%.

International Business Machines 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.