MAI Capital Management increased its holdings in International Business Machines Corp. (NYSE:IBM) by 8.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,642 shares of the technology company’s stock after buying an additional 905 shares during the period. MAI Capital Management’s holdings in International Business Machines were worth $1,786,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of IBM. ETF Managers Group LLC purchased a new stake in International Business Machines during the second quarter valued at about $121,000. Price Wealth Management Inc. purchased a new position in shares of International Business Machines in the fourth quarter worth about $122,000. Cerebellum GP LLC purchased a new position in shares of International Business Machines in the fourth quarter worth about $126,000. Horan Capital Advisors LLC. purchased a new position in shares of International Business Machines in the third quarter worth about $136,000. Finally, MPS Loria Financial Planners LLC purchased a new position in shares of International Business Machines in the second quarter worth about $156,000. Institutional investors own 57.10% of the company’s stock.
Shares of International Business Machines Corp. (NYSE IBM) opened at $159.32 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 1.29 and a debt-to-equity ratio of 2.25. The firm has a market capitalization of $146,760.00, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. International Business Machines Corp. has a 12-month low of $139.13 and a 12-month high of $179.00.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Friday, February 9th were given a dividend of $1.50 per share. The ex-dividend date was Thursday, February 8th. This represents a $6.00 annualized dividend and a yield of 3.77%. International Business Machines’s payout ratio is 49.83%.
Several research analysts have recently commented on IBM shares. Royal Bank of Canada reiterated a “hold” rating and issued a $160.00 price objective on shares of International Business Machines in a report on Wednesday, November 15th. Vetr upgraded International Business Machines from a “buy” rating to a “strong-buy” rating and set a $165.26 price objective on the stock in a report on Wednesday, November 15th. Tigress Financial reiterated a “buy” rating on shares of International Business Machines in a report on Friday, December 1st. Zacks Investment Research downgraded International Business Machines from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $175.00 price objective on shares of International Business Machines in a report on Thursday, January 11th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the stock. International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $166.01.
In other International Business Machines news, insider Erich Clementi sold 13,000 shares of International Business Machines stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $154.66, for a total transaction of $2,010,580.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frederick H. Waddell acquired 610 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were purchased at an average cost of $163.38 per share, for a total transaction of $99,661.80. The disclosure for this purchase can be found here. Insiders own 0.23% of the company’s stock.
International Business Machines Company Profile
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
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