Montecito Bank & Trust Buys 745 Shares of International Business Machines Co. (NYSE:IBM)

Montecito Bank & Trust grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 8.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,559 shares of the technology company’s stock after buying an additional 745 shares during the period. Montecito Bank & Trust’s holdings in International Business Machines were worth $2,101,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Public Sector Pension Investment Board raised its position in International Business Machines by 72.1% in the second quarter. Public Sector Pension Investment Board now owns 35,496 shares of the technology company’s stock worth $6,139,000 after purchasing an additional 14,874 shares in the last quarter. AXA S.A. grew its stake in shares of International Business Machines by 4.5% in the 2nd quarter. AXA S.A. now owns 432,215 shares of the technology company’s stock valued at $74,752,000 after purchasing an additional 18,423 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of 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. Drucker Wealth 3.0 LLC bought a new position in shares of International Business Machines during the 2nd quarter worth approximately $264,000. Finally, Delta Investment Management LLC boosted its stake in International Business Machines by 3.3% in the 2nd quarter. Delta Investment Management LLC now owns 5,522 shares of the technology company’s stock valued at $955,000 after buying an additional 176 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 1.1 %

Shares of NYSE:IBM opened at $225.63 on Friday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The company’s 50-day moving average price is $223.60 and its two-hundred day moving average price is $211.90. The stock has a market capitalization of $208.63 billion, a PE ratio of 32.84, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74. International Business Machines Co. has a one year low of $162.62 and a one year high of $239.35.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.20 EPS. On average, equities analysts forecast that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.96%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

Analysts Set New Price Targets

Several brokerages recently issued reports on IBM. UBS Group lifted their price target on shares of 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 lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Jefferies Financial Group upped their target price on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research report on Wednesday, October 2nd. Finally, Bernstein Bank upped their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus target price of $220.73.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.