PFG Advisors Boosts Stake in International Business Machines Co. (NYSE:IBM)

PFG Advisors lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 4.4% during the 4th quarter, HoldingsChannel reports. The fund owned 8,207 shares of the technology company’s stock after purchasing an additional 347 shares during the period. PFG Advisors’ holdings in International Business Machines were worth $1,804,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. State Street Corp lifted its stake in International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after buying an additional 1,200,803 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in International Business Machines by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company’s stock valued at $1,465,223,000 after buying an additional 126,547 shares in the last quarter. FMR LLC lifted its stake in International Business Machines by 6.0% in the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after buying an additional 294,276 shares in the last quarter. Swiss National Bank lifted its stake in International Business Machines by 0.5% in the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after buying an additional 12,400 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in International Business Machines in the 4th quarter valued at about $592,746,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is owned by insiders.

International Business Machines Stock Up 0.3 %

Shares of NYSE IBM opened at $249.72 on Thursday. The company has a 50 day simple moving average of $243.21 and a 200-day simple moving average of $227.58. The company has a market capitalization of $231.56 billion, a P/E ratio of 38.96, a P/E/G ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45.

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, topping 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, equities research analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.67%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Sanford C. Bernstein raised their price target on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Jefferies Financial Group raised their price target on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. BMO Capital Markets increased their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. Finally, Oppenheimer assumed 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.