Clune & Associates LTD. Makes New Investment in International Business Machines Co. (NYSE:IBM)

Clune & Associates LTD. purchased a new stake in International Business Machines Co. (NYSE:IBM) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 1,048 shares of the technology company’s stock, valued at approximately $230,000.

Several other institutional investors have also recently made changes to their positions in IBM. Blue Zone Wealth Advisors LLC acquired a new stake in shares of International Business Machines during the fourth quarter valued at about $242,000. Brady Martz Wealth Solutions LLC acquired a new position in shares of International Business Machines in the 4th quarter worth approximately $1,940,000. Tranquilli Financial Advisor LLC acquired a new stake in International Business Machines in the 4th quarter valued at approximately $373,000. Truist Financial Corp raised its position in International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after purchasing an additional 49,591 shares during the period. Finally, Nordea Investment Management AB lifted its stake in International Business Machines by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after purchasing an additional 4,625 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday, March 15th. UBS Group raised their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Sanford C. Bernstein upped their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Morgan Stanley increased their target price on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Monday, January 27th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Up 1.9 %

Shares of NYSE IBM opened at $248.49 on Tuesday. The stock has a market cap of $230.42 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 52-week low of $162.62 and a 52-week high of $266.45. The business has a 50-day moving average price of $247.40 and a 200 day moving average price of $230.42. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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 forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.69%. International Business Machines’s dividend payout ratio is presently 104.21%.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

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.