International Business Machines Co. (NYSE:IBM) Shares Purchased by Holderness Investments Co.

Holderness Investments Co. increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,457 shares of the technology company’s stock after purchasing an additional 815 shares during the period. International Business Machines accounts for 1.4% of Holderness Investments Co.’s investment portfolio, making the stock its 12th largest holding. Holderness Investments Co.’s holdings in International Business Machines were worth $6,476,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Compass Financial Services Inc acquired a new stake in shares of International Business Machines in the 4th quarter worth $26,000. Vision Financial Markets LLC acquired a new stake in shares of International Business Machines in the 4th quarter worth $31,000. Avondale Wealth Management lifted its stake in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares during the period. Valued Wealth Advisors LLC lifted its stake in shares of International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after acquiring an additional 90 shares during the period. Finally, Rialto Wealth Management LLC acquired a new stake in shares of International Business Machines in the 4th quarter worth $35,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on IBM shares. 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 note on Thursday, January 30th. Sanford C. Bernstein raised their target price on shares of 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. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research report on Monday, January 27th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average price target of $231.44.

Insider Activity

In other International Business Machines 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 transaction of $6,715,644.43. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

International Business Machines Stock Up 2.3 %

International Business Machines stock opened at $252.54 on Thursday. The firm has a market capitalization of $234.17 billion, a P/E ratio of 39.40, a P/E/G ratio of 5.81 and a beta of 0.74. The company has a 50-day simple moving average of $245.88 and a 200-day simple moving average of $229.33. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

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

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.65%. International Business Machines’s payout ratio is presently 104.21%.

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.