International Business Machines Co. (NYSE:IBM) Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC increased its position in shares of International Business Machines Co. (NYSE:IBM) by 136.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 275,024 shares of the technology company’s stock after buying an additional 158,670 shares during the period. NewEdge Advisors LLC’s holdings in International Business Machines were worth $60,458,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IBM. Norges Bank acquired a new position in International Business Machines in the 4th quarter worth about $1,236,176,000. Raymond James Financial Inc. acquired a new position in shares of International Business Machines during the 4th quarter worth approximately $592,746,000. Vanguard Group Inc. lifted its position in shares of International Business Machines by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after buying an additional 1,539,888 shares in the last quarter. KBC Group NV grew its stake in International Business Machines by 90.4% in the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock valued at $370,909,000 after acquiring an additional 800,930 shares during the period. Finally, Strategic Financial Concepts LLC increased its holdings in International Business Machines by 23,311.1% in the 4th quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock worth $153,262,000 after acquiring an additional 694,204 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity at International Business Machines

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 value of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wedbush initiated coverage on shares of International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating on the stock. Jefferies Financial Group lowered their price objective on International Business Machines from $270.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, March 31st. Bank of America boosted their price objective on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and issued a $276.00 target price on shares of International Business Machines in a research report on Monday. Finally, Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $232.75.

International Business Machines Price Performance

Shares of IBM stock opened at $240.73 on Wednesday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company has a market capitalization of $223.22 billion, a PE ratio of 37.55, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67. The firm’s 50-day moving average is $248.41 and its two-hundred day moving average is $233.20. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $266.45.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s payout ratio 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.