Yoffe Investment Management LLC Makes New $2.88 Million Investment in International Business Machines Co. (NYSE:IBM)

Yoffe Investment Management LLC purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,096 shares of the technology company’s stock, valued at approximately $2,879,000. International Business Machines makes up approximately 2.9% of Yoffe Investment Management LLC’s portfolio, making the stock its 3rd largest holding.

Other large investors have also recently added to or reduced their stakes in the company. Compass Financial Services Inc acquired a new position in International Business Machines in the fourth quarter valued at approximately $26,000. Vision Financial Markets LLC bought a new position in International Business Machines during the 4th quarter worth $31,000. Avondale Wealth Management increased its position in International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares during the period. Valued Wealth Advisors LLC lifted its stake in International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after buying an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at $35,000. 58.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IBM has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased 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. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Finally, Sanford C. Bernstein increased their price target on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $231.13.

Insider Transactions at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction dated Monday, March 3rd. The stock was 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 directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is currently owned by insiders.

International Business Machines Trading Down 2.6 %

NYSE:IBM opened at $243.49 on Friday. The stock has a fifty day simple moving average of $251.41 and a 200 day simple moving average of $232.34. The firm has a market capitalization of $225.77 billion, a price-to-earnings ratio of 37.99, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $266.45. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last announced 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%. Sell-side analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

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