BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $38.78 Million Stake in International Business Machines Co. (NYSE:IBM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 15.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 176,395 shares of the technology company’s stock after purchasing an additional 23,123 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in International Business Machines were worth $38,777,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in IBM. JBR Co Financial Management Inc increased its stake in International Business Machines by 0.6% in the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock valued at $1,405,000 after acquiring an additional 40 shares during the period. Wealth Dimensions Group Ltd. grew its stake in International Business Machines by 1.0% during the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock worth $873,000 after buying an additional 40 shares during the last quarter. Schechter Investment Advisors LLC grew its stake in International Business Machines by 0.7% during the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock worth $1,396,000 after buying an additional 43 shares during the last quarter. Titleist Asset Management LLC grew its stake in International Business Machines by 3.1% during the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock worth $315,000 after buying an additional 43 shares during the last quarter. Finally, Callan Capital LLC grew its stake in shares of International Business Machines by 2.4% during the fourth quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock valued at $411,000 after purchasing an additional 44 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IBM. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. Oppenheimer began coverage on shares of International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective on the stock. Wedbush restated an “outperform” rating and set a $300.00 price objective on shares of International Business Machines in a report on Wednesday, May 7th. Finally, Morgan Stanley dropped their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus price target of $249.06.

International Business Machines Stock Performance

Shares of IBM opened at $266.76 on Wednesday. The firm has a 50-day moving average of $244.53 and a 200-day moving average of $237.32. International Business Machines Co. has a one year low of $163.53 and a one year high of $269.28. The company has a market cap of $247.93 billion, a PE ratio of 41.62, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter last year, the firm posted $1.68 EPS. The company’s quarterly revenue was up .5% on a year-over-year basis. As a group, equities analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be issued a dividend of $1.68 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.52%. International Business Machines’s payout ratio is presently 115.66%.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated Monday, March 3rd. The shares were 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 owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. The trade was a 37.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently 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.