Resona Asset Management Co. Ltd. Invests $69.01 Million in International Business Machines Co. (NYSE:IBM)

Resona Asset Management Co. Ltd. purchased a new position in International Business Machines Co. (NYSE:IBM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 313,297 shares of the technology company’s stock, valued at approximately $69,013,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Compass Financial Services Inc purchased a new position in shares of International Business Machines during the fourth quarter worth approximately $26,000. Vision Financial Markets LLC purchased a new position in International Business Machines during the 4th quarter worth $31,000. Avondale Wealth Management raised its position in International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares in the last quarter. Valued Wealth Advisors LLC lifted its holdings in shares of 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 buying an additional 90 shares during the period. Finally, Rialto Wealth Management LLC bought a new position in shares of International Business Machines during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IBM. Oppenheimer began coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective for the company. Wedbush began coverage on shares of International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating on the stock. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday, March 15th. Sanford C. Bernstein increased their target price on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $231.13.

International Business Machines Stock Down 6.6 %

NYSE:IBM opened at $227.31 on Friday. 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 Co. has a twelve month low of $162.62 and a twelve month high of $266.45. The company has a market cap of $210.78 billion, a PE ratio of 35.46, a P/E/G ratio of 5.81 and a beta of 0.67. The company’s 50 day moving average is $251.46 and its two-hundred day moving average is $232.41.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data 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%. Analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by insiders.

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.