Fox Hill Wealth Management Boosts Stock Position in International Business Machines Co. (NYSE:IBM)

Fox Hill Wealth Management lifted its stake in International Business Machines Co. (NYSE:IBM) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,401 shares of the technology company’s stock after buying an additional 155 shares during the quarter. Fox Hill Wealth Management’s holdings in International Business Machines were worth $967,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. State Street Corp boosted its position in International Business Machines by 2.2% during the third 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. Charles Schwab Investment Management Inc. raised its holdings in shares of International Business Machines by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company’s stock valued at $1,465,223,000 after acquiring an additional 126,547 shares during the last quarter. FMR LLC raised its holdings in shares of International Business Machines by 6.0% during the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after acquiring an additional 294,276 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $592,746,000. Finally, Holocene Advisors LP acquired a new stake in shares of International Business Machines in the third quarter valued at approximately $573,306,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 2.4 %

International Business Machines stock opened at $246.80 on Wednesday. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $266.45. 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 cap of $228.85 billion, a PE ratio of 38.50, a P/E/G ratio of 5.81 and a beta of 0.74. The stock’s fifty day moving average is $245.29 and its two-hundred day moving average is $229.16.

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

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Insider Transactions at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated Monday, March 3rd. The stock was 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 owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on IBM shares. Oppenheimer assumed coverage on International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target for the company. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday. Morgan Stanley lifted their target price 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. Finally, Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $231.44.

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.