Pegasus Asset Management Inc. Grows Stock Position in International Business Machines Co. (NYSE:IBM)

Pegasus Asset Management Inc. lifted its stake in shares of International Business Machines Co. (NYSE:IBM) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,667 shares of the technology company’s stock after purchasing an additional 153 shares during the quarter. Pegasus Asset Management Inc.’s holdings in International Business Machines were worth $586,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Laidlaw Wealth Management LLC raised its position in International Business Machines by 2.7% in the fourth quarter. Laidlaw Wealth Management LLC now owns 3,539 shares of the technology company’s stock worth $778,000 after acquiring an additional 93 shares in the last quarter. Financial Management Network Inc. raised its position in International Business Machines by 4.6% in the fourth quarter. Financial Management Network Inc. now owns 2,194 shares of the technology company’s stock worth $488,000 after acquiring an additional 96 shares in the last quarter. Plan Group Financial LLC raised its position in International Business Machines by 9.2% in the fourth quarter. Plan Group Financial LLC now owns 4,619 shares of the technology company’s stock worth $1,015,000 after acquiring an additional 388 shares in the last quarter. Allied Investment Advisors LLC raised its position in International Business Machines by 3.8% in the fourth quarter. Allied Investment Advisors LLC now owns 5,404 shares of the technology company’s stock worth $1,188,000 after acquiring an additional 200 shares in the last quarter. Finally, Bank of Jackson Hole Trust acquired a new stake in International Business Machines in the fourth quarter valued at $86,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM opened at $262.85 on Wednesday. The firm has a market cap of $243.04 billion, a price-to-earnings ratio of 41.01, a PEG ratio of 5.73 and a beta of 0.76. The stock has a 50 day moving average of $233.32 and a 200-day moving average of $220.66. 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 52 week low of $162.62 and a 52 week high of $265.72.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping 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%. As a group, analysts forecast that International Business Machines Co. will post 10.77 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.54%. International Business Machines’s dividend payout ratio is currently 104.21%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on IBM shares. UBS Group upped their target price on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Monday, January 27th. Bank of America increased their target price on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Finally, BMO Capital Markets raised their price objective on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Two 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 company’s stock. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average target price of $231.44.

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.