Mystic Asset Management Inc. Has $3.93 Million Position in International Business Machines Co. (NYSE:IBM)

Mystic Asset Management Inc. grew its position in shares of International Business Machines Co. (NYSE:IBM) by 143.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,857 shares of the technology company’s stock after buying an additional 10,507 shares during the period. International Business Machines makes up 1.1% of Mystic Asset Management Inc.’s holdings, making the stock its 23rd biggest position. Mystic Asset Management Inc.’s holdings in International Business Machines were worth $3,926,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of IBM. Meeder Asset Management Inc. increased its position in International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after acquiring an additional 166 shares during the period. Blue Zone Wealth Advisors LLC acquired a new position in shares of International Business Machines during the 4th quarter worth approximately $242,000. Brady Martz Wealth Solutions LLC bought a new position in shares of International Business Machines during the fourth quarter worth approximately $1,940,000. Tranquilli Financial Advisor LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $373,000. Finally, Truist Financial Corp boosted its stake in shares of International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after buying an additional 49,591 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is currently owned by company insiders.

International Business Machines Trading Up 1.9 %

IBM opened at $253.00 on Tuesday. 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 fifty-two week low of $162.62 and a fifty-two week high of $266.45. The company’s 50 day moving average price is $244.84 and its two-hundred day moving average price is $228.85. The firm has a market capitalization of $234.60 billion, a price-to-earnings ratio of 39.47, a PEG ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued 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%. As a group, 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 disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IBM. Oppenheimer assumed coverage on International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective for the company. JPMorgan Chase & Co. upped their price target on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Bank of America upped their target price on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Finally, Sanford C. Bernstein lifted 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, International Business Machines currently has an average 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.