Portfolio Design Labs LLC Purchases 2,740 Shares of International Business Machines Co. (NYSE:IBM)

Portfolio Design Labs LLC boosted its position in shares of International Business Machines Co. (NYSE:IBM) by 232.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,917 shares of the technology company’s stock after purchasing an additional 2,740 shares during the quarter. Portfolio Design Labs LLC’s holdings in International Business Machines were worth $861,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. increased its stake in shares of International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after acquiring an additional 166 shares during the last quarter. Brady Martz Wealth Solutions LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at about $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at approximately $373,000. Philip James Wealth Mangement LLC acquired a new position in shares of International Business Machines in the 3rd quarter valued at approximately $5,117,000. Finally, Nordea Investment Management AB grew its position in shares of International Business Machines by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock valued at $16,615,000 after purchasing an additional 4,625 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Up 2.2 %

IBM opened at $254.85 on Wednesday. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $265.72. The stock’s fifty day simple moving average is $230.19 and its 200 day simple moving average is $217.78. 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 stock has a market cap of $235.65 billion, a PE ratio of 39.76, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76.

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, beating analysts’ consensus estimates 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, research analysts expect that International Business Machines Co. will post 10.75 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Analysts Set New Price Targets

IBM has been the subject of several research analyst reports. BMO Capital Markets boosted their price objective on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Sanford C. Bernstein boosted their price objective on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Stifel Nicolaus boosted their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Wedbush began coverage on International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average 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.