PNC Financial Services Group Inc. Buys 5,897 Shares of International Business Machines Co. (NYSE:IBM)

PNC Financial Services Group Inc. grew its holdings in International Business Machines Co. (NYSE:IBM) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,181,333 shares of the technology company’s stock after acquiring an additional 5,897 shares during the quarter. PNC Financial Services Group Inc.’s holdings in International Business Machines were worth $259,692,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of IBM. Raymond James Financial Inc. bought a new stake in shares of International Business Machines in the fourth quarter valued at about $592,746,000. Holocene Advisors LP bought a new stake in shares of International Business Machines in the third quarter valued at about $573,306,000. State Street Corp boosted its position in shares of International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after acquiring an additional 1,200,803 shares during the period. KBC Group NV boosted its position in shares of International Business Machines by 90.4% in the fourth quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock valued at $370,909,000 after acquiring an additional 800,930 shares during the period. Finally, Strategic Financial Concepts LLC boosted its position in shares of International Business Machines by 23,311.1% in the fourth quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock valued at $153,262,000 after acquiring an additional 694,204 shares during the period. Institutional investors own 58.96% of the company’s stock.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was 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. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by insiders.

International Business Machines Stock Up 5.2 %

Shares of NYSE IBM opened at $261.67 on Friday. 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 market cap of $242.63 billion, a price-to-earnings ratio of 40.82, a PEG ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $265.72. The stock has a 50-day moving average price of $241.29 and a two-hundred day moving average price of $226.20.

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

International Business Machines Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein boosted their target price 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. BMO Capital Markets upped their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Bank of America upped their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. UBS Group upped their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley upped their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” 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 issued a buy rating to the company. According to data from MarketBeat, the stock presently 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.