Klingenstein Fields & Co. LP Purchases 908 Shares of International Business Machines Co. (NYSE:IBM)

Klingenstein Fields & Co. LP lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 6.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 15,140 shares of the technology company’s stock after acquiring an additional 908 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in International Business Machines were worth $2,476,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in IBM. Naples Money Management LLC bought a new position in shares of International Business Machines during the 4th quarter worth $28,000. Cornerstone Planning Group LLC bought a new position in shares of International Business Machines during the 2nd quarter worth $28,000. Live Oak Investment Partners bought a new position in International Business Machines in the 4th quarter worth about $30,000. Briaud Financial Planning Inc bought a new position in International Business Machines in the 3rd quarter worth about $31,000. Finally, PCA Investment Advisory Services Inc. bought a new position in International Business Machines in the 2nd quarter worth about $31,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM traded up $0.11 during trading hours on Friday, reaching $181.58. 3,037,990 shares of the stock traded hands, compared to its average volume of 3,055,452. The company has a market capitalization of $166.46 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 3.57 and a beta of 0.70. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22. International Business Machines Co. has a 52-week low of $120.55 and a 52-week high of $199.18. The company’s 50-day simple moving average is $188.46 and its two-hundred day simple moving average is $169.11.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 earnings per share for the quarter, beating analysts’ consensus estimates of $3.78 by $0.09. The company had revenue of $17.38 billion for the quarter, compared to analysts’ expectations of $17.29 billion. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. International Business Machines’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $3.60 EPS. Equities research analysts forecast that International Business Machines Co. will post 10.04 EPS for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were given a dividend of $1.66 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.64 annualized dividend and a yield of 3.66%. International Business Machines’s payout ratio is 81.67%.

Wall Street Analyst Weigh In

Several research analysts have commented on IBM shares. Evercore ISI upgraded International Business Machines from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Jefferies Financial Group started coverage on International Business Machines in a research note on Friday, January 5th. They issued a “hold” rating and a $180.00 target price for the company. BMO Capital Markets raised their target price on International Business Machines from $155.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Bank of America raised their target price on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Finally, StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $178.67.

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.