Wrapmanager Inc. Acquires New Stake in International Business Machines Co. (NYSE:IBM)

Wrapmanager Inc. purchased a new position in shares of International Business Machines Co. (NYSE:IBM) in the 4th quarter, Holdings Channel reports. The firm purchased 4,217 shares of the technology company’s stock, valued at approximately $927,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBM. Holocene Advisors LP acquired a new position in shares of International Business Machines during the 3rd quarter worth approximately $573,306,000. State Street Corp boosted its stake in shares of 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 buying an additional 1,200,803 shares during the period. KBC Group NV increased its position in shares of International Business Machines by 90.4% in the fourth quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after purchasing an additional 800,930 shares during the period. Strategic Financial Concepts LLC lifted its holdings in shares of International Business Machines by 23,311.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock worth $153,262,000 after acquiring an additional 694,204 shares during the period. Finally, Eagle Asset Management Inc. boosted its holdings in shares of International Business Machines by 587.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock valued at $134,262,000 after purchasing an additional 536,785 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Up 0.2 %

Shares of International Business Machines stock opened at $262.12 on Tuesday. The firm has a market cap of $242.37 billion, a PE ratio of 40.89, a PEG ratio of 5.81 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72. The company has a 50 day simple moving average of $235.92 and a two-hundred day simple moving average of $222.79.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.55%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IBM. JPMorgan Chase & Co. raised their price objective on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Morgan Stanley lifted their price objective on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Oppenheimer began coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective on the stock. Wedbush began coverage on shares of International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $231.44.

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.