Chatham Capital Group Inc. Boosts Position in International Business Machines Co. (NYSE:IBM)

Chatham Capital Group Inc. raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 62.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,157 shares of the technology company’s stock after buying an additional 1,592 shares during the quarter. Chatham Capital Group Inc.’s holdings in International Business Machines were worth $914,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in IBM. Pettinga Financial Advisors LLC purchased a new position in International Business Machines during the 3rd quarter valued at about $221,000. Maia Wealth LLC grew its holdings in International Business Machines by 8.2% during the 3rd quarter. Maia Wealth LLC now owns 1,331 shares of the technology company’s stock valued at $291,000 after buying an additional 101 shares in the last quarter. Forte Capital LLC ADV grew its holdings in shares of International Business Machines by 4.9% during the third quarter. Forte Capital LLC ADV now owns 8,544 shares of the technology company’s stock worth $1,889,000 after purchasing an additional 397 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC bought a new position in shares of International Business Machines in the third quarter worth approximately $268,000. Finally, Advisor Resource Council bought a new position in shares of International Business Machines in the third quarter worth approximately $836,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IBM. JPMorgan Chase & Co. upped their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Jefferies Financial Group upped their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Monday, January 27th. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Finally, Oppenheimer assumed coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Performance

NYSE:IBM opened at $248.54 on Friday. The firm has a market cap of $230.47 billion, a PE ratio of 38.77, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The business has a 50 day moving average price of $240.52 and a 200-day moving average price of $225.74.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates 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 predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

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.