Todd Asset Management LLC Has $52.05 Million Position in International Business Machines Co. (NYSE:IBM)

Todd Asset Management LLC raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.6% in the fourth quarter, Holdings Channel reports. The fund owned 236,780 shares of the technology company’s stock after acquiring an additional 3,739 shares during the period. International Business Machines comprises approximately 1.2% of Todd Asset Management LLC’s holdings, making the stock its 20th biggest position. Todd Asset Management LLC’s holdings in International Business Machines were worth $52,051,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBM. Pettinga Financial Advisors LLC acquired a new position in shares of International Business Machines during the 3rd quarter worth about $221,000. Modera Wealth Management LLC raised its stake in shares of International Business Machines by 14.9% during the 3rd quarter. Modera Wealth Management LLC now owns 22,414 shares of the technology company’s stock worth $4,955,000 after purchasing an additional 2,915 shares in the last quarter. Clear Harbor Asset Management LLC raised its stake in International Business Machines by 20.5% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 2,323 shares of the technology company’s stock valued at $514,000 after acquiring an additional 395 shares during the period. Insight Folios Inc grew its holdings in International Business Machines by 4.6% in the 3rd quarter. Insight Folios Inc now owns 38,369 shares of the technology company’s stock valued at $8,483,000 after buying an additional 1,674 shares in the last quarter. Finally, Gemmer Asset Management LLC grew its holdings in shares of International Business Machines by 21.4% during the 3rd quarter. Gemmer Asset Management LLC now owns 1,833 shares of the technology company’s stock worth $405,000 after purchasing an additional 323 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

IBM has been the subject of several research reports. Jefferies Financial Group increased their target price on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. Bank of America upped their price target on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. raised their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Sanford C. Bernstein raised their price target on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $231.44.

International Business Machines Stock Performance

Shares of IBM stock opened at $262.12 on Tuesday. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The firm has a market capitalization of $242.37 billion, a price-to-earnings ratio of 40.89, a price-to-earnings-growth ratio of 5.81 and a beta of 0.76. The business has a fifty day moving average of $235.92 and a 200 day moving average of $222.79.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates 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 expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

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