Encompass More Asset Management Takes $235,000 Position in International Business Machines Co. (NYSE:IBM)

Encompass More Asset Management bought a new position in shares of International Business Machines Co. (NYSE:IBM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,070 shares of the technology company’s stock, valued at approximately $235,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBM. State Street Corp increased its stake in International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. Legal & General Group Plc increased its stake in shares of International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after acquiring an additional 330,694 shares during the last quarter. FMR LLC lifted its holdings in shares of International Business Machines by 6.0% during the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after acquiring an additional 294,276 shares during the period. Swiss National Bank boosted its position in shares of International Business Machines by 0.5% in the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock worth $602,819,000 after acquiring an additional 12,400 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after purchasing an additional 2,702,340 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Down 0.6 %

Shares of IBM opened at $224.69 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a one year low of $162.62 and a one year high of $239.35. The stock has a 50-day moving average price of $223.94 and a 200 day moving average price of $212.00. The company has a market capitalization of $207.75 billion, a P/E ratio of 32.71, a P/E/G ratio of 4.78 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the previous year, the firm earned $2.20 earnings per share. The business’s revenue was up 1.5% compared to the same quarter last year. Sell-side analysts forecast that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were paid a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.97%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on IBM shares. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a report on Wednesday, October 2nd. Bank of America boosted their price target on International Business Machines from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday. Jefferies Financial Group raised their price objective on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Sanford C. Bernstein boosted their target price on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of International Business Machines from $227.00 to $233.00 and gave the company a “neutral” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $220.73.

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.