Quadrant Capital Group LLC Raises Holdings in International Business Machines Co. (NYSE:IBM)

Quadrant Capital Group LLC increased its position in International Business Machines Co. (NYSE:IBM) by 8.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,279 shares of the technology company’s stock after purchasing an additional 571 shares during the period. Quadrant Capital Group LLC’s holdings in International Business Machines were worth $1,600,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Blue Zone Wealth Advisors LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $242,000. Brady Martz Wealth Solutions LLC acquired a new stake in International Business Machines during the 4th quarter worth $1,940,000. Tranquilli Financial Advisor LLC purchased a new position in International Business Machines during the 4th quarter worth $373,000. Truist Financial Corp increased its stake in 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 purchasing an additional 49,591 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of International Business Machines by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after buying an additional 4,625 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on IBM. Bank of America upped their price objective on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Monday, January 27th. BMO Capital Markets raised their target price 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. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Finally, Morgan Stanley raised their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $231.13.

International Business Machines Stock Performance

Shares of IBM opened at $227.31 on Monday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45. The stock has a market cap of $210.78 billion, a P/E ratio of 35.46, a PEG ratio of 5.81 and a beta of 0.67. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company has a 50-day moving average of $251.46 and a two-hundred day moving average of $232.66.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (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%. As a group, research analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced 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 annualized dividend and a 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 Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 45,007 shares of the company’s stock, 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 SEC, which is available at the SEC website. 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.