CIBC Asset Management Inc Raises Holdings in International Business Machines Co. (NYSE:IBM)

CIBC Asset Management Inc grew its position in shares of International Business Machines Co. (NYSE:IBM) by 4.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 176,580 shares of the technology company’s stock after buying an additional 8,309 shares during the quarter. CIBC Asset Management Inc’s holdings in International Business Machines were worth $38,818,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of IBM. Compass Financial Services Inc bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $26,000. Hazlett Burt & Watson Inc. boosted its holdings in International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of International Business Machines in the 3rd quarter worth about $29,000. Avondale Wealth Management grew its holdings in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares during the period. Finally, Valued Wealth Advisors LLC boosted its holdings in shares of International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after buying an additional 90 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. raised 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. Oppenheimer initiated coverage on International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price on the stock. Morgan Stanley boosted their price target on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Jefferies Financial Group lifted their price objective on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, Bank of America boosted their target price on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Up 0.6 %

Shares of NYSE IBM opened at $260.65 on Monday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The firm has a 50-day simple moving average of $232.08 and a two-hundred day simple moving average of $219.64. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72. The company has a market cap of $241.01 billion, a P/E ratio of 40.66, a PEG ratio of 5.57 and a beta of 0.76.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Research analysts anticipate that International Business Machines Co. will post 10.75 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 2.56%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is 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.