Brighton Jones LLC Purchases 6,063 Shares of International Business Machines Co. (NYSE:IBM)

Brighton Jones LLC increased its position in International Business Machines Co. (NYSE:IBM) by 47.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,767 shares of the technology company’s stock after acquiring an additional 6,063 shares during the quarter. Brighton Jones LLC’s holdings in International Business Machines were worth $3,069,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in International Business Machines by 0.4% during the third quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock valued at $11,515,290,000 after purchasing an additional 365,388 shares during the last quarter. Morgan Stanley lifted its position in International Business Machines by 13.4% during the third quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after purchasing an additional 1,919,490 shares during the last quarter. Northern Trust Corp lifted its position in International Business Machines by 4.2% during the third quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock valued at $1,398,886,000 after purchasing an additional 404,948 shares during the last quarter. Bank of New York Mellon Corp lifted its position in International Business Machines by 10.2% during the third quarter. Bank of New York Mellon Corp now owns 8,691,369 shares of the technology company’s stock valued at $1,219,399,000 after purchasing an additional 807,357 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in International Business Machines by 15.9% during the third quarter. California Public Employees Retirement System now owns 6,345,842 shares of the technology company’s stock valued at $890,322,000 after purchasing an additional 871,247 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IBM has been the subject of several research analyst reports. Bank of America lifted their target price on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Stifel Nicolaus reissued a “buy” rating and set a $190.00 price target on shares of International Business Machines in a research note on Wednesday, April 17th. UBS Group lifted their price target on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research note on Monday, April 22nd. Sanford C. Bernstein lifted their price target on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. Finally, Jefferies Financial Group decreased their target price on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $184.08.

International Business Machines Stock Performance

NYSE:IBM opened at $166.19 on Wednesday. International Business Machines Co. has a twelve month low of $120.55 and a twelve month high of $199.18. The stock has a market cap of $152.35 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 4.10 and a beta of 0.70. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The firm’s fifty day simple moving average is $186.85 and its 200 day simple moving average is $170.91.

International Business Machines (NYSE:IBM) last announced its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.08. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the previous year, the business posted $1.36 EPS. The company’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, research analysts predict that International Business Machines Co. will post 9.98 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.02%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s payout ratio is 75.20%.

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.