Convergence Financial LLC Purchases 1,128 Shares of International Business Machines Co. (NYSE:IBM)

Convergence Financial LLC lifted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 78.1% during the fourth quarter, HoldingsChannel reports. The firm owned 2,573 shares of the technology company’s stock after purchasing an additional 1,128 shares during the quarter. Convergence Financial LLC’s holdings in International Business Machines were worth $566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Heritage Investors Management Corp increased its holdings in International Business Machines by 1.4% in the 4th quarter. Heritage Investors Management Corp now owns 51,756 shares of the technology company’s stock worth $11,378,000 after acquiring an additional 694 shares during the last quarter. SRN Advisors LLC grew its position in International Business Machines by 185.2% in the fourth quarter. SRN Advisors LLC now owns 7,161 shares of the technology company’s stock worth $1,574,000 after acquiring an additional 4,650 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of International Business Machines in the 4th quarter valued at $68,000. NewEdge Wealth LLC grew its position in International Business Machines by 7.4% during the 4th quarter. NewEdge Wealth LLC now owns 173,277 shares of the technology company’s stock worth $38,092,000 after acquiring an additional 11,954 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in International Business Machines by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 79,287 shares of the technology company’s stock worth $17,430,000 after purchasing an additional 410 shares during the period. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on IBM shares. Sanford C. Bernstein lifted their price target 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 boosted 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. Oppenheimer started coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price for the company. Bank of America upped their price objective on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, BMO Capital Markets increased their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $231.44.

International Business Machines Trading Down 0.8 %

NYSE IBM opened at $255.62 on Thursday. 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 one year low of $162.62 and a one year high of $265.72. The firm’s fifty day moving average is $237.20 and its two-hundred day moving average is $223.48. The firm has a market cap of $236.35 billion, a PE ratio of 39.88, a P/E/G ratio of 5.81 and a beta of 0.76.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Analysts expect 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 announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s payout ratio is currently 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.