International Business Machines Co. (NYSE:IBM) Stake Boosted by Townsend Asset Management Corp NC ADV

Townsend Asset Management Corp NC ADV raised its holdings in shares of International Business Machines Co. (NYSE:IBM) by 4.3% in the 4th quarter, Holdings Channel reports. The firm owned 1,474 shares of the technology company’s stock after purchasing an additional 61 shares during the quarter. Townsend Asset Management Corp NC ADV’s holdings in International Business Machines were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the business. JBR Co Financial Management Inc increased its stake in shares of International Business Machines by 0.6% in the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock valued at $1,405,000 after acquiring an additional 40 shares during the last quarter. Schechter Investment Advisors LLC grew its holdings in International Business Machines by 0.7% during the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock valued at $1,396,000 after purchasing an additional 43 shares during the period. Callan Capital LLC increased its stake in International Business Machines by 2.4% in the fourth quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock valued at $411,000 after purchasing an additional 44 shares in the last quarter. Marks Group Wealth Management Inc raised its holdings in International Business Machines by 0.4% in the fourth quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock worth $2,292,000 after purchasing an additional 45 shares during the period. Finally, First Affirmative Financial Network grew its holdings in shares of International Business Machines by 1.5% in the 4th quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company’s stock valued at $687,000 after buying an additional 46 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company’s 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 transaction, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. The trade was 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 at this hyperlink. 0.07% of the stock is owned by company insiders.

Analyst Ratings Changes

IBM has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. BMO Capital Markets raised their price target on 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. Morgan Stanley boosted their price objective on 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. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, Oppenheimer initiated coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $231.44.

International Business Machines Trading Down 0.7 %

NYSE IBM opened at $251.40 on Thursday. The company has a market cap of $233.11 billion, a PE ratio of 39.22, a PEG ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $265.72. The stock has a 50 day moving average of $240.04 and a 200-day moving average of $225.58. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

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, 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%. On average, equities research analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Monday, February 10th. International Business Machines’s payout ratio is presently 104.21%.

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.