Cane Capital Partners LLC Makes New Investment in International Business Machines Corporation $IBM

Key Points

• Cane Capital Partners LLC opened a new position in International Business Machines (IBM) in Q4, acquiring 2,269 shares valued at approximately $672,000.
• IBM topped quarterly expectations with EPS of $4.52 (vs. $4.33 est.) and revenue of $19.69 billion, a 12.2% year-over-year increase.
• Analysts show a consensus rating of Moderate Buy with a consensus target price of $314.60, while individual targets range roughly from $290 to $380.

Cane Capital Partners LLC acquired a new position in International Business Machines Corporation (NYSE:IBM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,269 shares of the technology company's stock, valued at approximately $672,000.

Other large investors have also recently bought and sold shares of the company. Mountain Hill Investment Partners Corp. purchased a new position in International Business Machines in the third quarter worth $28,000. SWAN Capital LLC purchased a new position in shares of International Business Machines in the third quarter valued at $28,000. Trifecta Capital Advisors LLC increased its position in shares of International Business Machines by 129.1% in the third quarter. Trifecta Capital Advisors LLC now owns 126 shares of the technology company's stock valued at $36,000 after buying an additional 71 shares in the last quarter. American Wealth Advisors LLC purchased a new position in shares of International Business Machines in the third quarter valued at $40,000. Finally, Davis Capital Management purchased a new position in shares of International Business Machines in the third quarter valued at $54,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. BMO Capital Markets dropped their price target on International Business Machines from $350.00 to $290.00 and set a "market perform" rating for the company in a research report on Thursday, March 19th. Weiss Ratings restated a "buy (b)" rating on shares of International Business Machines in a research report on Thursday, January 22nd. Erste Group Bank cut International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, February 18th. DZ Bank upgraded International Business Machines to a "hold" rating in a research report on Wednesday, February 11th. Finally, Oppenheimer set a $380.00 price target on International Business Machines and gave the company an "outperform" rating in a research report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $314.60.

Insider Transactions at International Business Machines

In other International Business Machines news, Director Michael Miebach purchased 434 shares of the firm's stock in a transaction on Wednesday, February 25th. The shares were purchased at an average cost of $233.33 per share, with a total value of $101,265.22. Following the purchase, the director owned 434 shares in the company, valued at approximately $101,265.22. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director David N. Farr purchased 1,000 shares of the firm's stock in a transaction on Friday, January 30th. The stock was acquired at an average cost of $304.00 per share, for a total transaction of $304,000.00. Following the completion of the purchase, the director owned 9,258 shares in the company, valued at $2,814,432. The trade was a 12.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders acquired 1,484 shares of company stock worth $417,157. 0.27% of the stock is owned by corporate insiders.

International Business Machines Trading Down 0.8%

International Business Machines stock opened at $244.79 on Wednesday. The stock has a market cap of $229.63 billion, a PE ratio of 21.95, a P/E/G ratio of 2.47 and a beta of 0.69. The stock has a 50-day moving average price of $258.23 and a 200 day moving average price of $283.92. International Business Machines Corporation has a 52 week low of $215.16 and a 52 week high of $324.90. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 1.67.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The technology company reported $4.52 EPS for the quarter, topping analysts' consensus estimates of $4.33 by $0.19. The firm had revenue of $19.69 billion during the quarter, compared to analysts' expectations of $19.23 billion. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.The firm's quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.92 EPS. Equities research analysts predict that International Business Machines Corporation 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 Tuesday, March 10th. Shareholders of record on Tuesday, February 10th were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, February 10th. International Business Machines's dividend payout ratio (DPR) is presently 60.27%.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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