Canandaigua National Bank & Trust Co. Sells 253 Shares of International Business Machines Co. (NYSE:IBM)

Canandaigua National Bank & Trust Co. reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.8% during the fourth quarter, Holdings Channel reports. The firm owned 31,542 shares of the technology company’s stock after selling 253 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in International Business Machines were worth $6,934,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IBM. Lantz Financial LLC raised its position in shares of International Business Machines by 0.9% in the 2nd quarter. Lantz Financial LLC now owns 11,935 shares of the technology company’s stock worth $2,064,000 after acquiring an additional 107 shares in the last quarter. Great Lakes Advisors LLC boosted its holdings in shares of International Business Machines by 5.9% during the 2nd quarter. Great Lakes Advisors LLC now owns 49,596 shares of the technology company’s stock valued at $8,578,000 after buying an additional 2,750 shares in the last quarter. Chicago Capital LLC grew its position in shares of International Business Machines by 11.2% in the 2nd quarter. Chicago Capital LLC now owns 8,950 shares of the technology company’s stock worth $1,548,000 after buying an additional 902 shares during the period. Norden Group LLC increased its stake in shares of International Business Machines by 2.0% in the 2nd quarter. Norden Group LLC now owns 5,997 shares of the technology company’s stock worth $1,037,000 after acquiring an additional 117 shares in the last quarter. Finally, Strategic Financial Concepts LLC lifted its position in International Business Machines by 12,282.2% during the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after acquiring an additional 468,567 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Performance

Shares of NYSE:IBM traded up $0.02 during trading on Monday, hitting $222.67. The company’s stock had a trading volume of 2,794,768 shares, compared to its average volume of 2,835,568. The company has a 50-day moving average of $220.54 and a 200-day moving average of $207.78. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm has a market cap of $205.89 billion, a price-to-earnings ratio of 32.41, a P/E/G ratio of 5.18 and a beta of 0.74. International Business Machines Co. has a 12 month low of $157.88 and a 12 month high of $239.35.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the previous year, the firm earned $2.20 EPS. The business’s quarterly revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.00%. International Business Machines’s dividend payout ratio is presently 97.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on IBM shares. Stifel Nicolaus raised their target price on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Sanford C. Bernstein lifted their price objective on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research note on Wednesday, October 2nd. BMO Capital Markets lifted their price target on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Finally, Bernstein Bank raised their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $214.88.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on 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 directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.07% of the company’s stock.

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.