Lake Street Advisors Group LLC Increases Position in International Business Machines Co. (NYSE:IBM)

Lake Street Advisors Group LLC increased its stake in shares of International Business Machines Co. (NYSE:IBM) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,704 shares of the technology company’s stock after buying an additional 317 shares during the quarter. Lake Street Advisors Group LLC’s holdings in International Business Machines were worth $1,034,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings 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 valued at $12,307,940,000 after purchasing an additional 1,200,803 shares during the period. FMR LLC grew its position in International Business Machines by 6.0% in the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after buying an additional 294,276 shares during the last quarter. Swiss National Bank increased its stake in International Business Machines by 0.5% in the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after buying an additional 12,400 shares during the period. Holocene Advisors LP purchased a new position in International Business Machines during the 3rd quarter worth $573,306,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of International Business Machines by 1.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,473,421 shares of the technology company’s stock worth $546,824,000 after acquiring an additional 32,732 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $255.62 on Thursday. 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 company’s 50-day moving average price is $237.20 and its 200 day moving average price is $223.48. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $265.72. The stock has a market cap of $236.35 billion, a price-to-earnings ratio of 39.88, a PEG ratio of 5.81 and a beta of 0.76.

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%. As a group, research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.61%. The ex-dividend date is Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IBM. Jefferies Financial Group boosted their price target on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Wedbush started coverage on International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. UBS Group raised their price target on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. raised their target price on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $231.44.

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.