Yoffe Investment Management LLC Takes $2.88 Million Position in International Business Machines Co. (NYSE:IBM)

Yoffe Investment Management LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,096 shares of the technology company’s stock, valued at approximately $2,879,000. International Business Machines makes up approximately 2.9% of Yoffe Investment Management LLC’s portfolio, making the stock its 3rd largest holding.

Other institutional investors have also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC grew its position in International Business Machines by 6.7% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,721 shares of the technology company’s stock worth $378,000 after acquiring an additional 108 shares in the last quarter. Uniting Wealth Partners LLC acquired a new stake in shares of International Business Machines in the 4th quarter valued at $1,039,000. Grant Private Wealth Management Inc bought a new stake in International Business Machines in the fourth quarter worth $479,000. Selway Asset Management acquired a new position in International Business Machines during the fourth quarter worth $780,000. Finally, Arete Wealth Advisors LLC raised its holdings in International Business Machines by 9.5% during the fourth quarter. Arete Wealth Advisors LLC now owns 14,373 shares of the technology company’s stock valued at $3,159,000 after buying an additional 1,243 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

International Business Machines Price Performance

Shares of IBM stock opened at $243.49 on Friday. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $266.45. The company has a market capitalization of $225.77 billion, a P/E ratio of 37.99, a P/E/G ratio of 5.81 and a beta of 0.67. The stock has a 50 day moving average of $251.41 and a two-hundred day moving average of $232.34. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last issued its 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 return on equity of 38.99% and a net margin of 9.60%. As a group, equities analysts expect that International Business Machines Co. will post 10.78 EPS 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. This represents a $6.68 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group increased their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. Morgan Stanley increased their price target on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Wedbush began coverage on shares of International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating for the company. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Finally, StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Two research 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $231.13.

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.