Cornerstone Advisory LLC Has $774,000 Position in International Business Machines Co. (NYSE:IBM)

Cornerstone Advisory LLC lifted its stake in shares of International Business Machines Co. (NYSE:IBM) by 10.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,523 shares of the technology company’s stock after buying an additional 329 shares during the quarter. Cornerstone Advisory LLC’s holdings in International Business Machines were worth $774,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Inspire Trust Co. N.A. lifted its stake in shares of International Business Machines by 2.9% during the 4th quarter. Inspire Trust Co. N.A. now owns 17,000 shares of the technology company’s stock worth $3,737,000 after buying an additional 475 shares during the last quarter. Novem Group acquired a new stake in shares of International Business Machines during the 4th quarter worth about $1,380,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of International Business Machines by 15.1% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 176,395 shares of the technology company’s stock worth $38,777,000 after buying an additional 23,123 shares during the last quarter. Elequin Capital LP bought a new position in International Business Machines during the fourth quarter worth about $286,000. Finally, Focus Partners Advisor Solutions LLC increased its position in International Business Machines by 49.2% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 29,607 shares of the technology company’s stock worth $6,509,000 after acquiring an additional 9,768 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Down 2.1%

Shares of International Business Machines stock opened at $261.23 on Thursday. The firm has a market capitalization of $242.79 billion, a PE ratio of 40.75, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The firm’s 50 day moving average is $244.79 and its 200 day moving average is $237.48. International Business Machines Co. has a 1 year low of $163.53 and a 1 year high of $269.28.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.60 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 the consensus estimate of $14.41 billion. During the same period last year, the company earned $1.68 EPS. The firm’s revenue was up .5% compared to the same quarter last year. Equities research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given 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 yield of 2.57%. International Business Machines’s dividend payout ratio (DPR) is currently 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 that occurred on 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 sale, the senior vice president now directly owns 45,007 shares in the company, valued at $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 is available at this hyperlink. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on IBM shares. BMO Capital Markets reaffirmed a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Wedbush reissued an “outperform” rating and issued a $300.00 target price on shares of International Business Machines in a report on Wednesday, May 7th. Finally, Oppenheimer assumed coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus price target of $249.06.

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.