International Business Machines Corporation $IBM Shares Acquired by Choate Investment Advisors

Key Points

• Choate Investment Advisors boosted its IBM stake by 43.1% in the fourth quarter, buying 5,890 more shares and bringing its total to 19,566 shares valued at about $5.8 million.
• IBM’s latest quarterly results topped expectations, with EPS of $1.91 versus the $1.81 estimate and revenue of $15.92 billion versus $15.60 billion expected, while revenue rose 9.5% year over year.
• IBM also raised its quarterly dividend to $1.69 per share, and analysts currently have a consensus Moderate Buy rating with a target price of $294.41.

Choate Investment Advisors increased its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 43.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,566 shares of the technology company's stock after acquiring an additional 5,890 shares during the quarter. Choate Investment Advisors' holdings in International Business Machines were worth $5,796,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Family CFO Inc purchased a new position in International Business Machines in the 4th quarter worth approximately $25,000. Joseph Group Capital Management purchased a new position in International Business Machines in the 4th quarter worth approximately $28,000. SWAN Capital LLC purchased a new position in International Business Machines in the 3rd quarter worth approximately $28,000. LFA Lugano Financial Advisors SA purchased a new position in International Business Machines in the 4th quarter worth approximately $31,000. Finally, DecisionPoint Financial LLC lifted its stake in International Business Machines by 1,666.7% in the 4th quarter. DecisionPoint Financial LLC now owns 106 shares of the technology company's stock worth $31,000 after purchasing an additional 100 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IBM has been the topic of a number of research reports. Oppenheimer decreased their target price on shares of International Business Machines from $380.00 to $320.00 and set an "outperform" rating on the stock in a research note on Thursday, April 16th. Royal Bank Of Canada decreased their target price on shares of International Business Machines from $330.00 to $300.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 6th. Evercore raised their target price on shares of International Business Machines from $330.00 to $345.00 and gave the stock an "outperform" rating in a research note on Thursday, January 29th. UBS Group raised shares of International Business Machines from a "sell" rating to a "neutral" rating and set a $236.00 target price on the stock in a research note on Wednesday, February 25th. Finally, Weiss Ratings lowered shares of International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of "Moderate Buy" and a consensus target price of $294.41.

International Business Machines Stock Up 0.0%

IBM stock opened at $253.88 on Monday. The firm has a market cap of $238.62 billion, a PE ratio of 22.45, a PEG ratio of 2.63 and a beta of 0.58. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. The firm's 50 day moving average price is $238.70 and its 200-day moving average price is $272.21. International Business Machines Corporation has a one year low of $212.34 and a one year high of $324.90.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.81 by $0.10. The firm had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The business's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.60 EPS. On average, equities research analysts anticipate that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be given a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, May 8th. This is a boost from International Business Machines's previous quarterly dividend of $1.68. International Business Machines's dividend payout ratio is presently 59.77%.

Insider Activity at International Business Machines

In other news, Director Michael Miebach purchased 434 shares of International Business Machines stock in a transaction dated Wednesday, February 25th. The shares were purchased at an average price of $233.33 per share, with a total value of $101,265.22. Following the transaction, the director owned 434 shares in the company, valued at $101,265.22. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.27% of the company's stock.

More International Business Machines News

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: IBM and the U.S. Commerce Department announced a plan to launch America’s first purpose-built quantum foundry, with IBM set to receive the largest share of federal support and contribute matching capital. IBM and U.S. Department of Commerce Announce America's First Purpose-Built Quantum Foundry, Supported by Proposed $1 Billion CHIPS Award
• Positive Sentiment: Analysts and media reports say the quantum funding package is a major new catalyst for IBM, helping drive strong share-price momentum and lifting sentiment around the stock’s long-term growth prospects. IBM shares extend rally as Wedbush calls US quantum investment a "new catalyst"
• Positive Sentiment: IBM’s push into quantum computing and related hot tech segments is being viewed as evidence the company is expanding beyond legacy businesses into higher-growth opportunities. Why IBM Stock Was Rocking it This Week
• Neutral Sentiment: Some coverage highlights that IBM’s valuation, debt load, and execution risk will matter as the company commits capital to the quantum foundry project. IBM’s US$1b Anderon Quantum Foundry Puts Valuation And Debt In Focus

International Business Machines Profile

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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