International Business Machines Co. (NYSE:IBM) Stock Position Raised by McGowan Group Asset Management Inc.

McGowan Group Asset Management Inc. boosted its holdings in International Business Machines Co. (NYSE:IBM) by 18.7% during the 4th quarter, Holdings Channel reports. The fund owned 2,426 shares of the technology company’s stock after acquiring an additional 382 shares during the quarter. McGowan Group Asset Management Inc.’s holdings in International Business Machines were worth $533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Measured Risk Portfolios Inc. acquired a new position in shares of International Business Machines in the fourth quarter worth $43,000. Minot DeBlois Advisors LLC bought a new position in shares of International Business Machines during the 4th quarter worth approximately $137,000. Napa Wealth Management acquired a new stake in shares of International Business Machines during the fourth quarter worth approximately $1,123,000. NDVR Inc. increased its position in International Business Machines by 5.5% in the 4th quarter. NDVR Inc. now owns 1,567 shares of the technology company’s stock valued at $344,000 after acquiring an additional 81 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of International Business Machines by 6.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 607,840 shares of the technology company’s stock worth $133,626,000 after buying an additional 36,759 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 1.8%

Shares of NYSE IBM opened at $253.74 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. The stock has a 50 day moving average price of $243.06 and a 200 day moving average price of $235.19. The firm has a market capitalization of $235.82 billion, a price-to-earnings ratio of 39.58, a PEG ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a 52-week low of $163.53 and a 52-week high of $266.45.

International Business Machines (NYSE:IBM) last released 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 net margin of 9.60% and a return on equity of 38.99%. The business had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same period in the previous year, the company earned $1.68 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. Sell-side analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.65%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is presently 115.66%.

Insider Buying and Selling

In other International Business Machines 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 transaction of $6,715,644.43. Following the completion of the transaction, the senior vice president now 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 SEC, which is accessible through this link. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IBM shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. UBS Group reaffirmed a “sell” rating and set a $170.00 price target (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the stock a “hold” rating in a research report on Thursday, April 24th. Finally, Morgan Stanley reduced their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $248.50.

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.