Cornerstone Planning Group LLC Purchases 599 Shares of International Business Machines Co. (NYSE:IBM)

Cornerstone Planning Group LLC boosted its stake in shares of International Business Machines Co. (NYSE:IBM) by 124.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,081 shares of the technology company’s stock after acquiring an additional 599 shares during the quarter. Cornerstone Planning Group LLC’s holdings in International Business Machines were worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of IBM. International Assets Investment Management LLC raised its position in shares of International Business Machines by 20,324.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after acquiring an additional 2,702,340 shares in the last quarter. Holocene Advisors LP bought a new stake in shares of International Business Machines in the 3rd quarter worth $573,306,000. State Street Corp increased its holdings in shares of 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 worth $12,307,940,000 after purchasing an additional 1,200,803 shares in the last quarter. KBC Group NV boosted its stake in shares of International Business Machines by 90.4% in the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after buying an additional 800,930 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its stake in shares of International Business Machines by 23,311.1% in the 4th quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock worth $153,262,000 after buying an additional 694,204 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Down 0.4 %

IBM stock opened at $252.31 on Monday. The firm has a market cap of $233.30 billion, a PE ratio of 39.36, a PEG ratio of 5.57 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a one year low of $162.62 and a one year high of $265.72. The firm’s 50 day moving average price is $229.76 and its 200-day moving average price is $217.15.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, equities research analysts anticipate that International Business Machines Co. will post 10.75 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.65%. International Business Machines’s payout ratio is currently 104.21%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IBM. JPMorgan Chase & Co. raised their price target on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. BMO Capital Markets lifted their target price on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Wedbush initiated coverage on International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. Finally, Stifel Nicolaus lifted their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $225.53.

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.