SevenBridge Financial Group LLC Raises Stock Position in International Business Machines Co. (NYSE:IBM)

SevenBridge Financial Group LLC lifted its stake in International Business Machines Co. (NYSE:IBM) by 7.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,881 shares of the technology company’s stock after purchasing an additional 1,320 shares during the period. SevenBridge Financial Group LLC’s holdings in International Business Machines were worth $4,151,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. OneAscent Financial Services LLC raised its position in shares of International Business Machines by 6.9% in the 4th quarter. OneAscent Financial Services LLC now owns 3,991 shares of the technology company’s stock worth $877,000 after acquiring an additional 259 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in International Business Machines by 173.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 260,784 shares of the technology company’s stock worth $57,328,000 after purchasing an additional 165,255 shares during the period. Meeder Advisory Services Inc. lifted its position in International Business Machines by 10.5% during the fourth quarter. Meeder Advisory Services Inc. now owns 17,514 shares of the technology company’s stock valued at $3,850,000 after buying an additional 1,665 shares during the period. OV Management LLC boosted its holdings in shares of International Business Machines by 8.2% during the 4th quarter. OV Management LLC now owns 11,182 shares of the technology company’s stock valued at $2,458,000 after buying an additional 850 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of International Business Machines in the 4th quarter worth about $16,342,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.7 %

Shares of IBM stock opened at $250.34 on Wednesday. The stock has a market cap of $232.13 billion, a P/E ratio of 39.05, a PEG ratio of 5.81 and a beta of 0.74. The company’s fifty day simple moving average is $250.52 and its two-hundred day simple moving average is $232.13. 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 52 week low of $162.62 and a 52 week 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 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%. Analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.67%. International Business Machines’s payout ratio is currently 104.21%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on IBM shares. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. JPMorgan Chase & Co. upped their price target 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. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday, March 15th. Oppenheimer started coverage on International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target for the company. Finally, BMO Capital Markets upped their price target on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $231.13.

Insider Transactions at International Business Machines

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. Insiders own 0.18% of the company’s stock.

About International Business Machines

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.