Harbour Investments Inc. Purchases 608 Shares of International Business Machines Co. (NYSE:IBM)

Harbour Investments Inc. boosted its position in International Business Machines Co. (NYSE:IBM) by 9.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,813 shares of the technology company’s stock after acquiring an additional 608 shares during the period. Harbour Investments Inc.’s holdings in International Business Machines were worth $1,498,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. United Bank boosted its holdings in International Business Machines by 53.3% during the third quarter. United Bank now owns 5,628 shares of the technology company’s stock worth $1,244,000 after buying an additional 1,956 shares during the last quarter. Quest Partners LLC boosted its holdings in International Business Machines by 23,700.0% during the third quarter. Quest Partners LLC now owns 238 shares of the technology company’s stock worth $53,000 after buying an additional 237 shares during the last quarter. Drive Wealth Management LLC bought a new position in International Business Machines during the third quarter worth about $339,000. New England Asset Management Inc. boosted its holdings in International Business Machines by 3.0% during the third quarter. New England Asset Management Inc. now owns 33,175 shares of the technology company’s stock worth $7,334,000 after buying an additional 975 shares during the last quarter. Finally, Pathstone Holdings LLC boosted its holdings in International Business Machines by 3.2% during the third quarter. Pathstone Holdings LLC now owns 115,093 shares of the technology company’s stock worth $25,445,000 after buying an additional 3,558 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 2.4 %

Shares of International Business Machines stock opened at $246.80 on Wednesday. The firm has a market cap of $228.85 billion, a PE ratio of 38.50, a P/E/G 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’s 50 day simple moving average is $245.29 and its 200 day simple moving average is $229.16. 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 (NYSE:IBM) last posted its quarterly earnings results 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 return on equity of 38.99% and a net margin of 9.60%. On average, analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of International Business Machines 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 transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Jefferies Financial Group raised their price target on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Morgan Stanley raised their price target on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Wedbush assumed coverage on International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. raised their price target on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $231.44.

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.