Oppenheimer & Co. Inc. Has $16.84 Million Stake in International Business Machines Co. (NYSE:IBM)

Oppenheimer & Co. Inc. lifted its stake in International Business Machines Co. (NYSE:IBM) by 7.8% during the 4th quarter, Holdings Channel reports. The firm owned 76,601 shares of the technology company’s stock after acquiring an additional 5,575 shares during the period. Oppenheimer & Co. Inc.’s holdings in International Business Machines were worth $16,839,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp boosted its position in shares of International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. FMR LLC boosted its position in shares of International Business Machines by 6.0% in the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after purchasing an additional 294,276 shares during the last quarter. Swiss National Bank boosted its position in shares of International Business Machines by 0.5% in the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock worth $602,819,000 after purchasing an additional 12,400 shares during the last quarter. Holocene Advisors LP bought a new position in shares of International Business Machines in the 3rd quarter worth $573,306,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of International Business Machines by 1.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,473,421 shares of the technology company’s stock worth $546,824,000 after purchasing an additional 32,732 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wedbush assumed coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating on the stock. Bank of America lifted their target price on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Oppenheimer assumed coverage on International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price on the stock. UBS Group lifted their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Finally, Sanford C. Bernstein lifted their target price on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Price Performance

NYSE:IBM opened at $255.62 on Thursday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The stock’s 50-day simple moving average is $237.20 and its 200 day simple moving average is $223.48. The company has a market cap of $236.35 billion, a P/E ratio of 39.88, a P/E/G ratio of 5.81 and a beta of 0.76. 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 released 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, sell-side analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

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.