Norden Group LLC Acquires 107 Shares of International Business Machines Co. (NYSE:IBM)

Norden Group LLC grew its position in International Business Machines Co. (NYSE:IBM) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,711 shares of the technology company’s stock after buying an additional 107 shares during the quarter. Norden Group LLC’s holdings in International Business Machines were worth $2,135,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of IBM. Holocene Advisors LP bought a new stake in shares of International Business Machines in the third quarter valued at about $573,306,000. State Street Corp lifted its holdings 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 purchasing an additional 1,200,803 shares in the last quarter. KBC Group NV lifted its holdings 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 valued at $370,909,000 after purchasing an additional 800,930 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of International Business Machines by 23,311.1% in the fourth quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock valued at $153,262,000 after purchasing an additional 694,204 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in shares of International Business Machines by 39,801.6% in the fourth quarter. Proficio Capital Partners LLC now owns 590,543 shares of the technology company’s stock valued at $129,819,000 after purchasing an additional 589,063 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

International Business Machines stock opened at $252.63 on Friday. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $265.72. The stock’s 50 day moving average is $238.37 and its 200-day moving average is $224.36. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $234.25 billion, a price-to-earnings ratio of 39.41, a PEG ratio of 5.81 and a beta of 0.76.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating 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%. Equities research analysts expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Analysts Set New Price Targets

IBM has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price target 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 upped their target price on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Wedbush assumed coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating on the stock. UBS Group upped their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $231.44.

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.