RiverFront Investment Group LLC Acquires 151 Shares of International Business Machines Co. (NYSE:IBM)

RiverFront Investment Group LLC boosted its holdings in International Business Machines Co. (NYSE:IBM) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,450 shares of the technology company’s stock after acquiring an additional 151 shares during the quarter. RiverFront Investment Group LLC’s holdings in International Business Machines were worth $758,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in IBM. DnB Asset Management AS lifted its position in shares of International Business Machines by 1.5% during the 4th quarter. DnB Asset Management AS now owns 266,098 shares of the technology company’s stock worth $58,496,000 after buying an additional 3,877 shares during the period. Slagle Financial LLC lifted its holdings in shares of International Business Machines by 6.6% during the fourth quarter. Slagle Financial LLC now owns 14,235 shares of the technology company’s stock valued at $3,129,000 after acquiring an additional 880 shares during the period. Orion Portfolio Solutions LLC boosted its stake in shares of International Business Machines by 10.0% in the 4th quarter. Orion Portfolio Solutions LLC now owns 54,663 shares of the technology company’s stock valued at $12,017,000 after purchasing an additional 4,985 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of International Business Machines by 14.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 533,928 shares of the technology company’s stock worth $117,373,000 after purchasing an additional 68,760 shares during the last quarter. Finally, Broadway Wealth Solutions Inc. bought a new stake in shares of International Business Machines in the 4th quarter worth about $427,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM stock opened at $243.83 on Friday. The firm’s 50 day moving average price is $249.51 and its two-hundred day moving average price is $231.47. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45. The stock has a market cap of $226.10 billion, a PE ratio of 38.04, a PEG ratio of 5.81 and a beta of 0.74.

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%. As a group, analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.74%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

IBM has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Bank of America raised their price target on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. Finally, Jefferies Financial Group raised their target price on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines currently has an average rating of “Hold” and an average price target of $231.44.

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.