Range Financial Group LLC Acquires 4,336 Shares of International Business Machines Co. (NYSE:IBM)

Range Financial Group LLC lifted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 145.9% during the 4th quarter, Holdings Channel reports. The firm owned 7,307 shares of the technology company’s stock after purchasing an additional 4,336 shares during the quarter. Range Financial Group LLC’s holdings in International Business Machines were worth $1,606,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in IBM. Lantz Financial LLC raised its holdings in shares of International Business Machines by 0.9% during the second quarter. Lantz Financial LLC now owns 11,935 shares of the technology company’s stock valued at $2,064,000 after purchasing an additional 107 shares during the period. Strategic Financial Concepts LLC raised its stake in International Business Machines by 12,282.2% during the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after buying an additional 468,567 shares during the period. Koss Olinger Consulting LLC acquired a new stake in International Business Machines in the second quarter valued at approximately $390,000. Ellis Investment Partners LLC increased its holdings in shares of International Business Machines by 13.1% during the second quarter. Ellis Investment Partners LLC now owns 2,233 shares of the technology company’s stock valued at $386,000 after acquiring an additional 258 shares in the last quarter. Finally, Fox Hill Wealth Management raised its position in shares of International Business Machines by 245.3% during the second quarter. Fox Hill Wealth Management now owns 3,715 shares of the technology company’s stock worth $643,000 after purchasing an additional 2,639 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Stifel Nicolaus raised their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets boosted their price objective on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Morgan Stanley upped their price target on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Finally, Sanford C. Bernstein raised their price objective on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $214.88.

International Business Machines Stock Performance

IBM traded up $1.46 during trading hours on Tuesday, hitting $224.13. The stock had a trading volume of 3,299,035 shares, compared to its average volume of 3,146,843. International Business Machines Co. has a 1 year low of $157.88 and a 1 year high of $239.35. The company’s fifty day simple moving average is $220.73 and its 200 day simple moving average is $208.12. The stock has a market cap of $207.24 billion, a PE ratio of 32.62, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

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

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines 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 completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.07% of the company’s stock.

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.