International Business Machines Co. (NYSE:IBM) Shares Bought by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc boosted its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,924 shares of the technology company’s stock after purchasing an additional 2,406 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in International Business Machines were worth $22,848,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Compass Financial Services Inc acquired a new position in International Business Machines during the 4th quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. boosted its position in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares during the period. Hara Capital LLC acquired a new position in International Business Machines during the 3rd quarter valued at approximately $29,000. Avondale Wealth Management boosted 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 during the period. Finally, Valued Wealth Advisors LLC boosted its position in International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after purchasing an additional 90 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Down 1.1 %

Shares of International Business Machines stock opened at $261.77 on Friday. The firm has a market cap of $242.05 billion, a price-to-earnings ratio of 40.84, a price-to-earnings-growth ratio of 5.81 and a beta of 0.76. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The business has a fifty day simple moving average of $235.27 and a 200-day simple moving average of $221.81.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating 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%. On average, equities analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s payout ratio is currently 104.21%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IBM. UBS Group boosted their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. boosted their price target on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Bank of America boosted their price target 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. Sanford C. Bernstein boosted their price target on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Finally, Jefferies Financial Group boosted their price target 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 equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $231.44.

International Business Machines 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.