Perennial Investment Advisors LLC Boosts Stock Position in International Business Machines Co. (NYSE:IBM)

Perennial Investment Advisors LLC raised its position in International Business Machines Co. (NYSE:IBM) by 5.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,056 shares of the technology company’s stock after purchasing an additional 250 shares during the period. Perennial Investment Advisors LLC’s holdings in International Business Machines were worth $1,111,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. United Bank raised its holdings in International Business Machines by 53.3% in the 3rd quarter. United Bank now owns 5,628 shares of the technology company’s stock valued at $1,244,000 after acquiring an additional 1,956 shares during the last quarter. Quarry LP increased its stake in International Business Machines by 314.1% in the third quarter. Quarry LP now owns 530 shares of the technology company’s stock valued at $117,000 after purchasing an additional 402 shares during the last quarter. Quantinno Capital Management LP lifted its position in International Business Machines by 59.8% during the third quarter. Quantinno Capital Management LP now owns 33,468 shares of the technology company’s stock worth $7,399,000 after buying an additional 12,527 shares during the period. Wellington Management Group LLP boosted its stake in International Business Machines by 5.0% in the 3rd quarter. Wellington Management Group LLP now owns 227,815 shares of the technology company’s stock worth $50,365,000 after buying an additional 10,862 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its holdings in International Business Machines by 58.8% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 101,656 shares of the technology company’s stock valued at $22,474,000 after buying an additional 37,654 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IBM has been the topic of several research analyst reports. Oppenheimer began coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. Wedbush assumed coverage on International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. Finally, StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $231.13.

International Business Machines Price Performance

IBM opened at $227.31 on Friday. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $266.45. The firm has a market cap of $210.78 billion, a price-to-earnings ratio of 35.46, a PEG ratio of 5.81 and a beta of 0.67. 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 fifty day simple moving average of $251.46 and a 200 day simple moving average of $232.41.

International Business Machines (NYSE:IBM) last announced its earnings results 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 expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Insider Activity

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 transaction of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.18% of the company’s stock.

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.