6,276 Shares in International Business Machines Co. (NYSE:IBM) Acquired by Novem Group

Novem Group purchased a new position in International Business Machines Co. (NYSE:IBM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,276 shares of the technology company's stock, valued at approximately $1,380,000.

Several other hedge funds also recently modified their holdings of IBM. Capital World Investors grew its stake in International Business Machines by 413.5% in the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after acquiring an additional 9,650,534 shares during the period. Norges Bank purchased a new stake in International Business Machines in the 4th quarter valued at about $1,236,176,000. Raymond James Financial Inc. acquired a new position in shares of International Business Machines during the 4th quarter valued at about $592,746,000. Northern Trust Corp boosted its position in shares of International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock worth $2,384,275,000 after acquiring an additional 1,704,209 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in International Business Machines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock valued at $20,189,023,000 after purchasing an additional 1,539,888 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on IBM. KGI Securities set a $242.00 target price on International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. Oppenheimer initiated coverage on International Business Machines in a report on Tuesday, February 11th. They set an "outperform" rating and a $320.00 target price for the company. The Goldman Sachs Group restated a "buy" rating on shares of International Business Machines in a report on Wednesday, February 5th. Bank of America boosted their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Finally, Citigroup reissued an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, International Business Machines currently has an average rating of "Hold" and an average target price of $249.06.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction that occurred 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 owns 45,007 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.18% of the company's stock.

International Business Machines Stock Down 0.6%

IBM opened at $266.76 on Wednesday. The firm has a market cap of $247.93 billion, a P/E ratio of 41.62, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The business has a 50 day moving average price of $244.53 and a 200 day moving average price of $237.32. International Business Machines Co. has a twelve month low of $163.53 and a twelve month high of $269.28.

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

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a $1.68 dividend. This is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.52%. International Business Machines's dividend payout ratio is 115.66%.

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.

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