Brendel Financial Advisors LLC Invests $395,000 in International Business Machines Co. (NYSE:IBM)

Brendel Financial Advisors LLC purchased a new position in International Business Machines Co. (NYSE:IBM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,417 shares of the technology company’s stock, valued at approximately $395,000.

Several other hedge funds and other institutional investors have also made changes to their positions in IBM. Klingenstein Fields & Co. LP lifted its stake in International Business Machines by 6.4% in the fourth quarter. Klingenstein Fields & Co. LP now owns 15,140 shares of the technology company’s stock worth $2,476,000 after purchasing an additional 908 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in International Business Machines by 65.2% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 12,861 shares of the technology company’s stock worth $2,103,000 after purchasing an additional 5,075 shares during the last quarter. PSI Advisors LLC grew its holdings in International Business Machines by 8.8% in the fourth quarter. PSI Advisors LLC now owns 2,033 shares of the technology company’s stock worth $332,000 after purchasing an additional 164 shares during the last quarter. Cetera Trust Company N.A purchased a new position in International Business Machines in the fourth quarter worth $185,000. Finally, Handelsbanken Fonder AB lifted its stake in shares of International Business Machines by 0.9% during the fourth quarter. Handelsbanken Fonder AB now owns 319,653 shares of the technology company’s stock worth $52,279,000 after buying an additional 2,998 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 0.1 %

Shares of IBM stock traded up $0.11 during trading hours on Friday, hitting $181.58. The company had a trading volume of 3,037,990 shares, compared to its average volume of 3,055,452. The company’s fifty day moving average is $188.46 and its 200 day moving average is $169.11. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93. International Business Machines Co. has a fifty-two week low of $120.55 and a fifty-two week high of $199.18. The stock has a market capitalization of $166.46 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 3.57 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 24th. The technology company reported $3.87 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.09. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The firm had revenue of $17.38 billion for the quarter, compared to the consensus estimate of $17.29 billion. During the same period in the prior year, the firm earned $3.60 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Research analysts expect that International Business Machines Co. will post 10.04 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were given a $1.66 dividend. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio is presently 81.67%.

Wall Street Analyst Weigh In

IBM has been the subject of a number of research reports. Royal Bank of Canada boosted their target price on shares of International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, April 11th. Sanford C. Bernstein lifted their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. BMO Capital Markets lifted their price objective on shares of International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Finally, Evercore raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $165.00 to $200.00 in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $178.67.

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.