Toronto Dominion Bank Sells 79,080 Shares of International Business Machines Co. (NYSE:IBM)

Toronto Dominion Bank lowered its stake in International Business Machines Co. (NYSE:IBM - Free Report) by 18.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 357,112 shares of the technology company's stock after selling 79,080 shares during the quarter. Toronto Dominion Bank's holdings in International Business Machines were worth $78,503,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Treasurer of the State of North Carolina boosted its holdings in International Business Machines by 0.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after acquiring an additional 4,131 shares in the last quarter. Blue Zone Wealth Advisors LLC acquired a new stake in International Business Machines in the 4th quarter valued at $242,000. Brady Martz Wealth Solutions LLC bought a new stake in International Business Machines during the 4th quarter valued at $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in International Business Machines during the fourth quarter worth $373,000. Finally, Truist Financial Corp raised its holdings in 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 buying an additional 49,591 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IBM. Royal Bank of Canada upped 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. Bank of America increased their price objective on International Business Machines from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. KGI Securities set a $242.00 price target on International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. Finally, Morgan Stanley dropped their price objective on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, International Business Machines currently has a consensus rating of "Moderate Buy" and an average price target of $249.06.

International Business Machines Trading Up 0.0%

NYSE:IBM opened at $266.70 on Friday. International Business Machines Co. has a 12 month low of $163.53 and a 12 month high of $267.98. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The firm's 50 day moving average is $243.74 and its 200 day moving average is $236.48. The stock has a market capitalization of $247.87 billion, a PE ratio of 41.61, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.18. The firm had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The business's revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company posted $1.68 earnings per share. Sell-side analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be paid a dividend of $1.68 per share. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.52%. International Business Machines's dividend payout ratio is presently 115.66%.

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.

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