Polymer Capital Management US LLC Makes New $315,000 Investment in International Business Machines Co. (NYSE:IBM)

Polymer Capital Management US LLC purchased a new position in shares of International Business Machines Co. (NYSE:IBM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,431 shares of the technology company’s stock, valued at approximately $315,000.

Several other institutional investors have also modified their holdings of the business. Cerity Partners LLC increased its stake in International Business Machines by 2.3% during the 4th quarter. Cerity Partners LLC now owns 306,706 shares of the technology company’s stock worth $67,473,000 after purchasing an additional 7,015 shares in the last quarter. Sierra Summit Advisors LLC boosted its holdings in shares of International Business Machines by 29.9% in the fourth quarter. Sierra Summit Advisors LLC now owns 14,454 shares of the technology company’s stock valued at $3,177,000 after buying an additional 3,324 shares during the period. Ritter Daniher Financial Advisory LLC DE increased its position in shares of International Business Machines by 10.4% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,082 shares of the technology company’s stock worth $238,000 after acquiring an additional 102 shares in the last quarter. Trek Financial LLC raised its holdings in shares of International Business Machines by 5.6% during the fourth quarter. Trek Financial LLC now owns 5,117 shares of the technology company’s stock worth $1,125,000 after acquiring an additional 271 shares during the period. Finally, Garrison Point Advisors LLC lifted its position in International Business Machines by 92.2% in the 4th quarter. Garrison Point Advisors LLC now owns 6,380 shares of the technology company’s stock valued at $1,403,000 after acquiring an additional 3,060 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Sanford C. Bernstein increased their target price on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Wedbush initiated coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. Jefferies Financial Group dropped their target price on International Business Machines from $270.00 to $265.00 and set a “hold” rating on the stock in a research report on Monday, March 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Finally, Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $231.13.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

International Business Machines Stock Down 0.9 %

Shares of IBM stock opened at $225.54 on Tuesday. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45. The stock has a market cap of $209.13 billion, a price-to-earnings ratio of 35.19, a PEG ratio of 5.81 and a beta of 0.67. The firm’s 50-day moving average is $251.49 and its 200-day moving average is $232.74. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last released its quarterly earnings data 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%. Sell-side analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.96%. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

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.