Old Port Advisors Increases Holdings in International Business Machines Co. (NYSE:IBM)

Old Port Advisors increased its stake in International Business Machines Co. (NYSE:IBM) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,868 shares of the technology company’s stock after acquiring an additional 570 shares during the period. International Business Machines makes up approximately 1.3% of Old Port Advisors’ investment portfolio, making the stock its 14th biggest position. Old Port Advisors’ holdings in International Business Machines were worth $4,588,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in IBM. Lantz Financial LLC boosted its stake in shares of International Business Machines by 0.9% during the 2nd quarter. Lantz Financial LLC now owns 11,935 shares of the technology company’s stock worth $2,064,000 after purchasing an additional 107 shares during the period. Versor Investments LP purchased a new stake in shares of International Business Machines in the second quarter worth approximately $364,000. Oregon Public Employees Retirement Fund boosted its holdings in International Business Machines by 0.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 78,891 shares of the technology company’s stock valued at $13,644,000 after acquiring an additional 631 shares during the period. Founders Financial Securities LLC grew its position in International Business Machines by 10.2% in the 2nd quarter. Founders Financial Securities LLC now owns 11,751 shares of the technology company’s stock valued at $2,032,000 after acquiring an additional 1,091 shares during the last quarter. Finally, Archer Investment Corp increased its stake in International Business Machines by 16.6% in the second quarter. Archer Investment Corp now owns 4,636 shares of the technology company’s stock worth $802,000 after purchasing an additional 659 shares during the period. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of recent analyst reports. Evercore ISI boosted their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Bank of America raised their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Stifel Nicolaus upped their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average price target of $208.94.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by insiders.

International Business Machines Stock Down 0.4 %

NYSE:IBM traded down $0.97 during mid-day trading on Thursday, hitting $218.86. 525,058 shares of the company’s stock traded hands, compared to its average volume of 4,209,730. The company has a fifty day moving average of $220.34 and a 200 day moving average of $206.80. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a twelve month low of $157.88 and a twelve month high of $239.35. The company has a market capitalization of $202.37 billion, a P/E ratio of 31.86, a P/E/G ratio of 5.18 and a beta of 0.73.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the firm posted $2.20 EPS. On average, analysts forecast that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.05%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

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.