Cornerstone Select Advisors LLC Acquires Shares of 6,059 International Business Machines Co. (NYSE:IBM)

Cornerstone Select Advisors LLC bought a new stake in International Business Machines Co. (NYSE:IBM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 6,059 shares of the technology company's stock, valued at approximately $1,332,000. International Business Machines comprises 1.3% of Cornerstone Select Advisors LLC's investment portfolio, making the stock its 26th biggest position.

Other institutional investors have also modified their holdings of the company. Compass Financial Services Inc acquired a new stake in shares of International Business Machines in the 4th quarter valued at approximately $26,000. Vision Financial Markets LLC acquired a new stake in International Business Machines in the fourth quarter valued at $31,000. Avondale Wealth Management boosted its position in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company's stock worth $34,000 after purchasing an additional 56 shares in the last quarter. Valued Wealth Advisors LLC grew its stake in shares of International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock worth $35,000 after purchasing an additional 90 shares during the period. Finally, Rialto Wealth Management LLC purchased a new position in shares of International Business Machines in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of the firm's 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 transaction, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.18% of the company's stock.

International Business Machines Stock Performance

International Business Machines stock opened at $249.60 on Wednesday. The stock has a fifty day moving average price of $242.99 and a 200 day moving average price of $234.38. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 52 week low of $163.53 and a 52 week high of $266.45. The firm has a market capitalization of $231.98 billion, a P/E ratio of 38.94, a PEG ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same period in the prior year, the firm posted $1.68 EPS. The company's revenue was up .5% on a year-over-year basis. Equities research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.69%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is presently 115.66%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IBM. Morgan Stanley lowered their target price on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. StockNews.com cut International Business Machines from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Oppenheimer initiated coverage on International Business Machines in a report on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price objective for the company. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of International Business Machines in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $248.50.

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.

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