OFI Invest Asset Management Makes New $3.87 Million Investment in International Business Machines Co. (NYSE:IBM)

OFI Invest Asset Management bought a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 18,231 shares of the technology company’s stock, valued at approximately $3,870,000.

A number of other hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its position in shares of International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after buying an additional 166 shares during the last quarter. Blue Zone Wealth Advisors LLC purchased a new stake in International Business Machines during the fourth quarter valued at about $242,000. Brady Martz Wealth Solutions LLC purchased a new stake in International Business Machines in the fourth quarter worth approximately $1,940,000. Tranquilli Financial Advisor LLC bought a new position in shares of International Business Machines during the 4th quarter valued at $373,000. Finally, Truist Financial Corp lifted its stake in shares of International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after acquiring an additional 49,591 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wedbush initiated coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating on the stock. UBS Group boosted their price target on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Bank of America upped their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Morgan Stanley boosted their target price on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $231.44.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.07% of the company’s stock.

International Business Machines Trading Up 5.2 %

NYSE IBM opened at $261.67 on Friday. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $265.72. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company has a market capitalization of $242.63 billion, a price-to-earnings ratio of 40.82, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The firm’s fifty day moving average price is $241.29 and its 200 day moving average price is $226.41.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, sell-side analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

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.