Mackenzie Financial Corp Has $97.44 Million Stake in International Business Machines Co. (NYSE:IBM)

Mackenzie Financial Corp boosted its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 10.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 443,233 shares of the technology company's stock after purchasing an additional 42,557 shares during the period. Mackenzie Financial Corp's holdings in International Business Machines were worth $97,436,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in International Business Machines by 1.7% during the 4th 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 in the last quarter. Geode Capital Management LLC increased its holdings in International Business Machines by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company's stock valued at $4,589,145,000 after purchasing an additional 427,499 shares in the last quarter. Capital World Investors increased its holdings in International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Northern Trust Corp increased its holdings in International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after purchasing an additional 1,704,209 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in International Business Machines by 9.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company's stock valued at $1,783,281,000 after purchasing an additional 722,582 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Up 0.2%

Shares of International Business Machines stock opened at $258.79 on Friday. The business's 50 day simple moving average is $245.13 and its 200 day simple moving average is $238.36. International Business Machines Co. has a 52-week low of $163.53 and a 52-week high of $269.28. The firm has a market cap of $240.52 billion, a PE ratio of 40.37, a P/E/G 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.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The business had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same quarter last year, the firm earned $1.68 EPS. International Business Machines's revenue for the quarter was up .5% compared to the same quarter last year. On average, analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.60%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

Analysts Set New Price Targets

IBM has been the subject of several research reports. Wedbush reissued an "outperform" rating and issued a $300.00 target price on shares of International Business Machines in a research note on Wednesday, May 7th. The Goldman Sachs Group reissued a "buy" rating on shares of International Business Machines in a research note on Wednesday, February 5th. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Oppenheimer initiated coverage on International Business Machines in a research note on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price objective for the company. Finally, Royal Bank of Canada lifted their price objective on International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned 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 related news, SVP Robert David Thomas sold 26,543 shares of the business's 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 transaction, the senior vice president now directly owns 45,007 shares of the company's stock, valued at approximately $11,387,221.07. The trade was a 37.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company's stock.

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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