Welch Group LLC Sells 18,034 Shares of International Business Machines Co. (NYSE:IBM)

Welch Group LLC lowered its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 5.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 301,213 shares of the technology company's stock after selling 18,034 shares during the quarter. International Business Machines comprises about 3.2% of Welch Group LLC's investment portfolio, making the stock its 6th largest position. Welch Group LLC's holdings in International Business Machines were worth $73,496,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Treasurer of the State of North Carolina lifted 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 valued at $108,942,000 after buying an additional 4,131 shares during the period. Blue Zone Wealth Advisors LLC acquired a new stake in International Business Machines during the 4th quarter worth approximately $242,000. Tranquilli Financial Advisor LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth $373,000. Truist Financial Corp raised its stake in shares of International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock valued at $178,296,000 after purchasing an additional 49,591 shares during the period. Finally, Mufg Securities Americas Inc. acquired a new stake in International Business Machines in the 4th quarter valued at approximately $3,000,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Insider Transactions at International Business Machines

In other 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 value of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares of the company's stock, valued at $11,387,221.07. The trade was a 37.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.18% of the company's stock.

International Business Machines Trading Up 0.1%

IBM traded up $0.19 during midday trading on Friday, hitting $258.88. 9,667,740 shares of the company were exchanged, compared to its average volume of 4,225,727. The firm has a market capitalization of $240.60 billion, a P/E ratio of 40.39, a P/E/G ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a 1-year low of $163.53 and a 1-year high of $269.28. The firm's 50 day moving average price is $246.37 and its 200-day moving average price is $239.81. 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 posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. The company 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 firm's quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.68 earnings per share. As a group, equities analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.60%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is 115.66%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IBM. 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. Bank of America upped their price target on shares of International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Citigroup reissued an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. UBS Group reiterated a "sell" rating and set a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $300.00 price objective on shares of International Business Machines in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $249.06.

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.