Mystic Asset Management Inc. Has $3.93 Million Stake in International Business Machines Co. (NYSE:IBM)

Mystic Asset Management Inc. lifted its stake in shares of International Business Machines Co. (NYSE:IBM) by 143.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,857 shares of the technology company’s stock after acquiring an additional 10,507 shares during the period. International Business Machines accounts for about 1.1% of Mystic Asset Management Inc.’s portfolio, making the stock its 23rd largest position. Mystic Asset Management Inc.’s holdings in International Business Machines were worth $3,926,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of International Business Machines during the fourth quarter worth approximately $592,746,000. Holocene Advisors LP bought a new stake in International Business Machines during the 3rd quarter valued at $573,306,000. State Street Corp raised its holdings in International Business Machines by 2.2% during 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 stake in shares of International Business Machines by 90.4% in the fourth quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock valued at $370,909,000 after buying an additional 800,930 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its holdings in shares of International Business Machines by 23,311.1% during the fourth quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock valued at $153,262,000 after buying an additional 694,204 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday. Bank of America raised their target price on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Morgan Stanley raised their price objective on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, BMO Capital Markets upped their target price on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Trading Up 1.9 %

NYSE:IBM opened at $253.00 on Tuesday. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $266.45. 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 $244.84 and its 200 day moving average is $228.85. The stock has a market capitalization of $234.60 billion, a PE ratio of 39.47, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping 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%. Sell-side analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Monday, February 10th. International Business Machines’s payout ratio is currently 104.21%.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on 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 sale, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.07% 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.