Berkshire Asset Management LLC PA Acquires 5,260 Shares of International Business Machines Co. (NYSE:IBM)

Berkshire Asset Management LLC PA boosted its holdings in International Business Machines Co. (NYSE:IBM) by 73.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,429 shares of the technology company’s stock after purchasing an additional 5,260 shares during the period. Berkshire Asset Management LLC PA’s holdings in International Business Machines were worth $2,794,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in IBM. Compass Financial Services Inc bought a new position in shares of International Business Machines during the fourth quarter valued at about $26,000. Hara Capital LLC bought a new position in shares of International Business Machines during the third quarter valued at about $29,000. Vision Financial Markets LLC bought a new position in shares of International Business Machines during the fourth quarter valued at about $31,000. Avondale Wealth Management increased its stake 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 valued at $34,000 after buying an additional 56 shares during the period. Finally, Valued Wealth Advisors LLC raised its holdings in International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after purchasing an additional 90 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the transaction, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Stock Down 1.1 %

Shares of IBM opened at $248.54 on Friday. The business’s 50 day moving average is $240.52 and its 200 day moving average is $225.74. The company has a market capitalization of $230.47 billion, a PE ratio of 38.77, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $265.72. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

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 the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Wall Street Analyst Weigh In

IBM has been the subject of several research reports. Oppenheimer initiated coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Wedbush initiated coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Finally, BMO Capital Markets raised their price target on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $231.44.

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.