International Business Machines Co. (NYSE:IBM) Holdings Lifted by Pegasus Asset Management Inc.

Pegasus Asset Management Inc. increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 6.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,667 shares of the technology company’s stock after purchasing an additional 153 shares during the quarter. Pegasus Asset Management Inc.’s holdings in International Business Machines were worth $586,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC grew its stake in International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after purchasing an additional 2,702,340 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of International Business Machines in the third quarter worth about $573,306,000. State Street Corp lifted its position in shares of International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after buying an additional 1,200,803 shares during the last quarter. KBC Group NV lifted its position in shares of International Business Machines by 90.4% during the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after purchasing an additional 800,930 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its position in shares of International Business Machines by 23,311.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock worth $153,262,000 after purchasing an additional 694,204 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 0.6 %

Shares of NYSE:IBM opened at $262.85 on Wednesday. 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 stock has a market cap of $243.04 billion, a PE ratio of 41.01, a P/E/G ratio of 5.73 and a beta of 0.76. The business has a 50 day moving average of $233.32 and a 200-day moving average of $220.66. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $265.72.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, equities research analysts forecast that International Business Machines Co. will post 10.77 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Analysts Set New Price Targets

Several research firms recently weighed in on IBM. Oppenheimer started coverage on International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. Wedbush initiated coverage on International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating on the stock. UBS Group increased their price target on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. BMO Capital Markets upped their price objective on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, International Business Machines has an average rating of “Hold” and an average target price of $231.44.

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.