Millstone Evans Group LLC Purchases New Shares in International Business Machines Co. (NYSE:IBM)

Millstone Evans Group LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,150 shares of the technology company’s stock, valued at approximately $1,352,000. International Business Machines accounts for 0.9% of Millstone Evans Group LLC’s portfolio, making the stock its 21st largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in International Business Machines in the 4th quarter valued at $592,746,000. Holocene Advisors LP acquired a new stake in shares of International Business Machines in the third quarter valued at about $573,306,000. State Street Corp lifted its stake 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 worth $12,307,940,000 after buying an additional 1,200,803 shares in the last quarter. KBC Group NV boosted its position in International Business Machines by 90.4% during the fourth quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after acquiring an additional 800,930 shares during the last quarter. Finally, Strategic Financial Concepts LLC grew its stake in International Business Machines by 23,311.1% during the 4th 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 in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $243.75 on Friday. The firm has a market capitalization of $226.02 billion, a P/E ratio of 38.03, a P/E/G ratio of 5.81 and a beta of 0.74. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. The firm’s 50 day moving average is $246.77 and its two-hundred day moving average is $229.71.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS 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%. Research 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 declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.74%. International Business Machines’s dividend payout ratio is presently 104.21%.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

IBM has been the topic of several recent research reports. Bank of America boosted 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. BMO Capital Markets upped their target price on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday, March 15th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus price target of $231.44.

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.