Grimes & Company Inc. Has $3.52 Million Holdings in International Business Machines Co. (NYSE:IBM)

Grimes & Company Inc. raised its stake in International Business Machines Co. (NYSE:IBM) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,988 shares of the technology company’s stock after buying an additional 65 shares during the quarter. Grimes & Company Inc.’s holdings in International Business Machines were worth $3,515,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in IBM. Meeder Asset Management Inc. boosted its holdings in shares of International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after buying an additional 166 shares during the period. Brady Martz Wealth Solutions LLC bought a new stake in International Business Machines in the 4th quarter valued at $1,940,000. Susquehanna Fundamental Investments LLC bought a new position in shares of International Business Machines during the 2nd quarter worth about $7,160,000. Philip James Wealth Mangement LLC bought a new position in shares of International Business Machines during the 3rd quarter worth about $5,117,000. Finally, Nordea Investment Management AB lifted its holdings in shares of International Business Machines by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after acquiring an additional 4,625 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IBM. BMO Capital Markets increased their target price on shares of 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. Sanford C. Bernstein lifted their price target on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Thursday, October 24th. Stifel Nicolaus lifted their price target 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. Finally, Jefferies Financial Group lifted their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $220.73.

International Business Machines Trading Down 0.6 %

NYSE:IBM opened at $224.69 on Friday. The firm’s fifty day moving average is $224.33 and its 200-day moving average is $212.32. 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 52 week low of $162.62 and a 52 week high of $239.35. The firm has a market cap 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 earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.20 earnings per share. Equities analysts expect that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Announces Dividend

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

Insider Buying and Selling

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This 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 at this hyperlink. 0.07% of the stock is owned by insiders.

International Business Machines Company 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.