Grove Street Fiduciary LLC Purchases Shares of 2,454 International Business Machines Co. (NYSE:IBM)

Grove Street Fiduciary LLC acquired a new position in International Business Machines Co. (NYSE:IBM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,454 shares of the technology company’s stock, valued at approximately $539,000.

Several other large investors have also modified their holdings of IBM. McAdam LLC lifted its holdings in shares of International Business Machines by 1.5% during the third quarter. McAdam LLC now owns 3,570 shares of the technology company’s stock worth $789,000 after buying an additional 52 shares during the last quarter. Axecap Investments LLC bought a new position in International Business Machines during the third quarter worth $1,096,000. International Assets Investment Management LLC raised its stake in International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after purchasing an additional 2,702,340 shares during the last quarter. Brighton Jones LLC boosted its holdings in International Business Machines by 5.2% in the 3rd quarter. Brighton Jones LLC now owns 18,688 shares of the technology company’s stock valued at $4,132,000 after purchasing an additional 922 shares during the period. Finally, Great Lakes Retirement Inc. grew its position in International Business Machines by 4,676.6% in the 3rd quarter. Great Lakes Retirement Inc. now owns 11,034 shares of the technology company’s stock worth $2,439,000 after purchasing an additional 10,803 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Up 0.2 %

Shares of International Business Machines stock opened at $264.85 on Friday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $265.72. The stock has a market capitalization of $244.89 billion, a P/E ratio of 41.32, a price-to-earnings-growth ratio of 5.80 and a beta of 0.76. The company has a 50-day simple moving average of $234.65 and a 200 day simple moving average of $221.26. 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 (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Research analysts expect that International Business Machines Co. will post 10.77 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Analysts Set New Price Targets

IBM has been the subject of a number of research analyst reports. Sanford C. Bernstein upped their price objective on shares of 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Oppenheimer started coverage on International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Jefferies Financial Group raised their target price on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.