Longbow Finance SA Purchases 1,221 Shares of International Business Machines Co. (NYSE:IBM)

Longbow Finance SA increased its position in International Business Machines Co. (NYSE:IBM) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,785 shares of the technology company’s stock after buying an additional 1,221 shares during the quarter. Longbow Finance SA’s holdings in International Business Machines were worth $5,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of IBM. Pettinga Financial Advisors LLC bought a new stake in International Business Machines in the 3rd quarter worth approximately $221,000. Modera Wealth Management LLC lifted its position in International Business Machines by 14.9% in the third quarter. Modera Wealth Management LLC now owns 22,414 shares of the technology company’s stock valued at $4,955,000 after purchasing an additional 2,915 shares during the last quarter. Clear Harbor Asset Management LLC lifted its position in International Business Machines by 20.5% in the third quarter. Clear Harbor Asset Management LLC now owns 2,323 shares of the technology company’s stock valued at $514,000 after purchasing an additional 395 shares during the last quarter. Insight Folios Inc lifted its position in International Business Machines by 4.6% in the third quarter. Insight Folios Inc now owns 38,369 shares of the technology company’s stock valued at $8,483,000 after purchasing an additional 1,674 shares during the last quarter. Finally, Gemmer Asset Management LLC lifted its position in International Business Machines by 21.4% in the third quarter. Gemmer Asset Management LLC now owns 1,833 shares of the technology company’s stock valued at $405,000 after purchasing an additional 323 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on IBM shares. UBS Group boosted their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upped their target price on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Morgan Stanley upped their target price 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. Finally, Bank of America upped their target price on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a 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 stock. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Up 0.2 %

IBM stock opened at $262.12 on Tuesday. 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 Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. The business’s 50-day moving average is $235.92 and its two-hundred day moving average is $222.79. The company has a market cap of $242.37 billion, a price-to-earnings ratio of 40.89, a P/E/G ratio of 5.81 and a beta of 0.76.

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

International Business Machines Announces Dividend

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

International Business Machines Company 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.