Cary Street Partners Financial LLC Makes New $6.19 Million Investment in International Business Machines Co. (NYSE:IBM)

Cary Street Partners Financial LLC acquired a new stake in International Business Machines Co. (NYSE:IBM) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 28,152 shares of the technology company’s stock, valued at approximately $6,189,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in International Business Machines by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,094,106 shares of the technology company’s stock valued at $241,885,000 after acquiring an additional 46,951 shares during the period. Nordea Investment Management AB boosted its stake in shares of International Business Machines by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock valued at $16,615,000 after purchasing an additional 4,625 shares during the period. Pensionfund Sabic grew its holdings in shares of International Business Machines by 40.0% in the fourth quarter. Pensionfund Sabic now owns 14,000 shares of the technology company’s stock worth $3,078,000 after purchasing an additional 4,000 shares during the last quarter. Neville Rodie & Shaw Inc. raised its holdings in International Business Machines by 6.7% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 54,011 shares of the technology company’s stock valued at $11,873,000 after buying an additional 3,402 shares during the last quarter. Finally, Advance Capital Management Inc. boosted its position in International Business Machines by 8.9% during the 4th quarter. Advance Capital Management Inc. now owns 1,620 shares of the technology company’s stock valued at $356,000 after buying an additional 132 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM opened at $249.22 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The business’s 50 day moving average price is $243.06 and its 200-day moving average price is $234.27. International Business Machines Co. has a 52 week low of $163.53 and a 52 week high of $266.45. The stock has a market cap of $231.62 billion, a P/E ratio of 38.88, a P/E/G ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same quarter in the previous year, the firm earned $1.68 EPS. International Business Machines’s quarterly revenue was up .5% compared to the same quarter last year. Equities research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued a dividend of $1.68 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.70%. International Business Machines’s dividend payout ratio is presently 115.66%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on IBM shares. Wedbush restated an “outperform” rating and issued a $300.00 price objective on shares of International Business Machines in a research report on Thursday, April 24th. UBS Group reaffirmed a “sell” rating and set a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Bank of America lifted their price objective on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Finally, StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus price target of $248.50.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by insiders.

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.