Pettee Investors Inc. Buys 135 Shares of International Business Machines Co. (NYSE:IBM)

Pettee Investors Inc. boosted its stake in International Business Machines Co. (NYSE:IBM) by 0.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 17,987 shares of the technology company’s stock after acquiring an additional 135 shares during the quarter. International Business Machines accounts for about 2.0% of Pettee Investors Inc.’s portfolio, making the stock its 10th biggest holding. Pettee Investors Inc.’s holdings in International Business Machines were worth $3,954,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Compass Financial Services Inc purchased a new position in International Business Machines in the 4th quarter valued at $26,000. Vision Financial Markets LLC purchased a new position in International Business Machines in the 4th quarter valued at $31,000. Avondale Wealth Management lifted its holdings in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares in the last quarter. Valued Wealth Advisors LLC lifted its holdings in International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after purchasing an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC purchased a new position in International Business Machines in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 5.2 %

NYSE IBM opened at $261.67 on Friday. The firm’s 50-day moving average is $241.29 and its two-hundred day moving average is $226.41. 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 stock has a market capitalization of $242.63 billion, a P/E ratio of 40.82, a PEG ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating 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%. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have weighed in on the company. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. raised their price objective on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Morgan Stanley raised their price objective on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Wedbush assumed coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating on the stock. Finally, Oppenheimer assumed coverage on International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $231.44.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by corporate insiders.

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.