Black Diamond Financial LLC Buys Shares of 2,704 International Business Machines Co. (NYSE:IBM)

Black Diamond Financial LLC bought a new stake in shares of International Business Machines Co. (NYSE:IBM) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 2,704 shares of the technology company’s stock, valued at approximately $594,000.

Several other hedge funds have also recently added to or reduced their stakes in IBM. Union Bancaire Privee UBP SA purchased a new stake in shares of International Business Machines during the fourth quarter worth about $2,303,000. Delta Financial Group Inc. purchased a new stake in shares of International Business Machines during the fourth quarter worth about $1,699,000. Ascent Wealth Partners LLC grew its holdings in shares of International Business Machines by 0.9% during the fourth quarter. Ascent Wealth Partners LLC now owns 7,209 shares of the technology company’s stock worth $1,585,000 after buying an additional 65 shares in the last quarter. MONECO Advisors LLC grew its holdings in shares of International Business Machines by 9.3% during the fourth quarter. MONECO Advisors LLC now owns 13,087 shares of the technology company’s stock worth $2,877,000 after buying an additional 1,110 shares in the last quarter. Finally, Elwood & Goetz Wealth Advisory Group LLC grew its holdings in shares of International Business Machines by 5.1% during the fourth quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 1,425 shares of the technology company’s stock worth $313,000 after buying an additional 69 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Trading Down 1.1 %

Shares of IBM stock opened at $261.77 on Monday. The stock has a market cap of $242.05 billion, a price-to-earnings ratio of 40.84, a price-to-earnings-growth ratio of 5.81 and a beta of 0.76. 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 Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. The firm’s 50 day moving average price is $235.27 and its two-hundred day moving average price is $222.30.

International Business Machines (NYSE:IBM) last announced 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 net margin of 9.60% and a return on equity of 38.99%. On average, analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a dividend of $1.67 per share. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.55%. International Business Machines’s payout ratio is currently 104.21%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on IBM shares. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. UBS Group boosted their target price on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. Finally, Jefferies Financial Group boosted their target price on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Company 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.