Klingenstein Fields & Co. LP Acquires 908 Shares of International Business Machines Co. (NYSE:IBM)

Klingenstein Fields & Co. LP lifted its holdings in International Business Machines Co. (NYSE:IBM) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,140 shares of the technology company’s stock after acquiring an additional 908 shares during the period. Klingenstein Fields & Co. LP’s holdings in International Business Machines were worth $2,476,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI lifted its position in shares of 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 buying an additional 5,075 shares in the last quarter. PSI Advisors LLC lifted its position in shares of 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 buying an additional 164 shares in the last quarter. Cetera Trust Company N.A purchased a new stake in shares of International Business Machines in the fourth quarter worth about $185,000. Handelsbanken Fonder AB lifted its position in shares of International Business Machines by 0.9% in 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 in the last quarter. Finally, CWM LLC lifted its position in shares of International Business Machines by 13.6% in the fourth quarter. CWM LLC now owns 110,505 shares of the technology company’s stock worth $18,073,000 after buying an additional 13,242 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IBM. Sanford C. Bernstein boosted their target price on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Jefferies Financial Group started coverage on International Business Machines in a research report on Friday, January 5th. They set a “hold” rating and a $180.00 price objective on the stock. BMO Capital Markets upped their price objective on International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Finally, Evercore ISI upgraded International Business Machines from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $165.00 to $200.00 in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $178.67.

International Business Machines Trading Up 0.1 %

Shares of NYSE IBM traded up $0.11 during midday trading on Friday, hitting $181.58. The company’s stock had a trading volume of 3,037,990 shares, compared to its average volume of 3,055,452. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. The business’s 50 day moving average is $188.46 and its two-hundred day moving average is $169.11. International Business Machines Co. has a 12-month low of $120.55 and a 12-month high of $199.18. The firm has a market cap of $166.46 billion, a P/E 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 issued its quarterly 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 return on equity of 39.55% and a net margin of 12.13%. 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 business posted $3.60 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities research analysts expect that International Business Machines Co. will post 10.04 EPS for the current year.

International Business Machines Announces Dividend

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

About International Business Machines

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.