Contravisory Investment Management Inc. Invests $494,000 in International Business Machines Co. (NYSE:IBM)

Contravisory Investment Management Inc. bought a new position in International Business Machines Co. (NYSE:IBM) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 2,248 shares of the technology company’s stock, valued at approximately $494,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp lifted its position in International Business Machines by 2.2% in the 3rd 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 last quarter. Legal & General Group Plc boosted its position in shares of International Business Machines by 4.1% during the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after buying an additional 330,694 shares during the period. Ameriprise Financial Inc. grew its holdings in International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after buying an additional 444,698 shares in the last quarter. FMR LLC increased 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 acquiring an additional 294,276 shares during the period. Finally, Swiss National Bank increased its stake in International Business Machines by 0.5% during 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. 58.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction 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 owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Trading Up 1.1 %

Shares of IBM opened at $220.07 on Thursday. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $239.35. The company has a market cap of $203.49 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 4.71 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The stock has a fifty day moving average price of $222.34 and a two-hundred day moving average price of $210.16.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion for 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 quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.20 earnings per share. Analysts predict that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio is 97.23%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IBM. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Stifel Nicolaus lifted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Jefferies Financial Group raised their price objective on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Morgan Stanley boosted their target price on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Finally, Sanford C. Bernstein lifted their price target on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, International Business Machines has an average rating of “Hold” and a consensus target price of $215.81.

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.