Mainstay Capital Management LLC ADV Increases Holdings in International Business Machines Co. (NYSE:IBM)

Mainstay Capital Management LLC ADV grew its holdings in International Business Machines Co. (NYSE:IBM) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,698 shares of the technology company’s stock after acquiring an additional 96 shares during the period. International Business Machines comprises about 0.3% of Mainstay Capital Management LLC ADV’s investment portfolio, making the stock its 28th biggest position. Mainstay Capital Management LLC ADV’s holdings in International Business Machines were worth $2,132,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Holocene Advisors LP bought a new stake in shares of International Business Machines in the third quarter worth about $573,306,000. State Street Corp increased its holdings in shares of International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. KBC Group NV increased its holdings in shares of International Business Machines by 90.4% in the fourth quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after purchasing an additional 800,930 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of International Business Machines by 23,311.1% in the fourth quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock worth $153,262,000 after purchasing an additional 694,204 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in shares of International Business Machines by 587.1% in the third quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock worth $134,262,000 after purchasing an additional 536,785 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Down 1.1 %

Shares of NYSE IBM opened at $261.77 on Monday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The firm has a market capitalization of $242.05 billion, a price-to-earnings ratio of 40.84, a PEG ratio of 5.81 and a beta of 0.76. The stock has a 50 day moving average price of $235.27 and a 200 day moving average price of $222.30. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $265.72.

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%. Sell-side analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a $1.67 dividend. 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 104.21%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IBM. Oppenheimer began coverage on International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Wedbush began coverage on International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating on the stock. Sanford C. Bernstein boosted their price objective on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Finally, Jefferies Financial Group boosted their price objective on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.