International Business Machines Co. (NYSE:IBM) Shares Acquired by Seven Mile Advisory

Seven Mile Advisory increased its position in International Business Machines Co. (NYSE:IBM) by 70.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,567 shares of the technology company’s stock after purchasing an additional 649 shares during the period. Seven Mile Advisory’s holdings in International Business Machines were worth $344,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Summit Financial LLC raised its position in shares of International Business Machines by 67.1% during the 4th quarter. Summit Financial LLC now owns 23,394 shares of the technology company’s stock worth $5,143,000 after buying an additional 9,393 shares in the last quarter. Hoey Investments Inc. raised its stake in International Business Machines by 93.8% during the 4th quarter. Hoey Investments Inc. now owns 1,926 shares of the technology company’s stock valued at $423,000 after purchasing an additional 932 shares during the period. Alliancebernstein L.P. increased its holdings in shares of International Business Machines by 14.9% in the 4th quarter. Alliancebernstein L.P. now owns 1,591,471 shares of the technology company’s stock valued at $349,853,000 after purchasing an additional 206,944 shares during the period. Wellington Management Group LLP increased its stake in shares of International Business Machines by 1.4% in the fourth quarter. Wellington Management Group LLP now owns 231,021 shares of the technology company’s stock worth $50,785,000 after acquiring an additional 3,206 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in International Business Machines by 8.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 120,164 shares of the technology company’s stock worth $26,416,000 after buying an additional 9,411 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 1.0 %

IBM opened at $243.83 on Monday. The company has a fifty day moving average price of $249.51 and a 200-day moving average price of $231.62. The firm has a market capitalization of $226.10 billion, a P/E ratio of 38.04, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data 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 net margin of 9.60% and a return on equity of 38.99%. Equities research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.74%. International Business Machines’s payout ratio is 104.21%.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on 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 directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. BMO Capital Markets upped their target price on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Monday, January 27th. Jefferies Financial Group upped their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Finally, Oppenheimer started coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $231.44.

About International Business Machines

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.