Pittenger & Anderson Inc. Increases Stake in International Business Machines Co. (NYSE:IBM)

Pittenger & Anderson Inc. raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 15,485 shares of the technology company’s stock after acquiring an additional 50 shares during the period. Pittenger & Anderson Inc.’s holdings in International Business Machines were worth $3,404,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Compass Financial Services Inc purchased a new position in shares of International Business Machines in the fourth quarter valued at $26,000. Hazlett Burt & Watson Inc. lifted its position 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 worth $29,000 after buying an additional 116 shares during the last quarter. Hara Capital LLC bought a new stake in shares of International Business Machines during the third quarter worth $29,000. Avondale Wealth Management lifted its position in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares during the last quarter. Finally, Valued Wealth Advisors LLC lifted its position in shares of International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after purchasing an additional 90 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IBM has been the subject of several research analyst reports. Jefferies Financial Group lifted their target price 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. UBS Group lifted their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. Oppenheimer initiated coverage on International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective for the company. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Finally, BMO Capital Markets lifted their target price on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $231.44.

International Business Machines Price Performance

Shares of NYSE IBM opened at $260.65 on Monday. The business’s 50 day moving average price is $232.08 and its 200 day moving average price is $219.64. The firm has a market cap of $241.01 billion, a P/E ratio of 40.66, a P/E/G ratio of 5.57 and a beta of 0.76. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $265.72. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last announced its quarterly 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 return on equity of 38.99% and a net margin of 9.60%. On average, sell-side analysts expect that International Business Machines Co. will post 10.75 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend 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.