International Business Machines Co. (NYSE:IBM) Position Increased by Pettee Investors Inc.

Pettee Investors Inc. increased its position in shares of International Business Machines Co. (NYSE:IBM) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,987 shares of the technology company’s stock after buying an additional 135 shares during the period. International Business Machines comprises about 2.0% of Pettee Investors Inc.’s portfolio, making the stock its 10th biggest position. Pettee Investors Inc.’s holdings in International Business Machines were worth $3,954,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in IBM. Pettinga Financial Advisors LLC purchased a new stake in shares of International Business Machines during the third quarter worth approximately $221,000. TFB Advisors LLC purchased a new stake in shares of International Business Machines during the third quarter worth approximately $203,000. Capital Performance Advisors LLP purchased a new stake in shares of International Business Machines during the third quarter worth approximately $43,000. Easterly Investment Partners LLC purchased a new position in International Business Machines in the third quarter valued at approximately $221,000. Finally, Fiera Capital Corp increased its stake in International Business Machines by 3.6% in the third quarter. Fiera Capital Corp now owns 4,107 shares of the technology company’s stock valued at $908,000 after purchasing an additional 142 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction 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 directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade 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 this link. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $261.67 on Friday. 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 stock has a fifty day moving average price of $241.29 and a 200 day moving average price of $226.41. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $265.72. The company has a market cap of $242.63 billion, a PE ratio of 40.82, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results 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 return on equity of 38.99% and a net margin of 9.60%. Sell-side analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors 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 dividend yield of 2.55%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

Analysts Set New Price Targets

Several brokerages have commented on IBM. Jefferies Financial Group increased their price target on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Friday. Sanford C. Bernstein increased their price target on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Finally, BMO Capital Markets increased their price target on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $231.44.

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.