Ipswich Investment Management Co. Inc. Has $3.24 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Ipswich Investment Management Co. Inc. lessened its holdings in International Business Machines Co. (NYSE:IBM) by 5.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 14,752 shares of the technology company’s stock after selling 792 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in International Business Machines were worth $3,243,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its position in International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after purchasing an additional 166 shares in the last quarter. Blue Zone Wealth Advisors LLC acquired a new position in International Business Machines in the fourth quarter worth about $242,000. Brady Martz Wealth Solutions LLC acquired a new position in International Business Machines in the fourth quarter worth about $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in International Business Machines in the fourth quarter worth about $373,000. Finally, Philip James Wealth Mangement LLC acquired a new position in International Business Machines in the third quarter worth about $5,117,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the subject of several recent analyst reports. Oppenheimer initiated coverage on shares of International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. raised their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Bank of America raised their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Jefferies Financial Group raised their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and an average target price of $231.44.

International Business Machines Price Performance

Shares of IBM stock opened at $261.77 on Friday. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $265.72. The stock has a market cap of $242.05 billion, a PE ratio of 40.84, a PEG ratio of 5.80 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. The firm’s 50 day moving average price is $235.27 and its two-hundred day moving average price is $221.81.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, analysts forecast that International Business Machines Co. will post 10.77 EPS for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given 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 2.55%. International Business Machines’s dividend payout ratio is 104.21%.

International Business Machines 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.