Putney Financial Group LLC Makes New Investment in International Business Machines Co. (NYSE:IBM)

Putney Financial Group LLC purchased a new position in shares of International Business Machines Co. (NYSE:IBM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,786 shares of the technology company's stock, valued at approximately $1,272,000. International Business Machines comprises approximately 0.9% of Putney Financial Group LLC's investment portfolio, making the stock its 20th biggest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Compass Financial Services Inc purchased a new position in International Business Machines during the fourth quarter worth about $26,000. Vision Financial Markets LLC purchased a new position in International Business Machines in the fourth quarter valued at about $31,000. Valued Wealth Advisors LLC boosted its stake in International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock valued at $35,000 after acquiring an additional 90 shares during the last quarter. Rialto Wealth Management LLC purchased a new position in International Business Machines in the fourth quarter valued at about $35,000. Finally, Tacita Capital Inc boosted its stake in International Business Machines by 174.3% in the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock valued at $42,000 after acquiring an additional 122 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction 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 directly owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on IBM shares. JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $233.00 to $244.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Wall Street Zen lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Royal Bank of Canada increased their price target on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Bank of America lifted their target price on shares of International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. 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 stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of "Hold" and a consensus target price of $249.06.

International Business Machines Stock Down 0.6%

Shares of NYSE IBM traded down $1.59 during mid-day trading on Thursday, hitting $258.65. The company had a trading volume of 942,545 shares, compared to its average volume of 4,197,262. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company has a market capitalization of $240.39 billion, a PE ratio of 40.38, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. The business's 50-day simple moving average is $245.98 and its 200 day simple moving average is $239.17. International Business Machines Co. has a 1-year low of $163.53 and a 1-year high of $269.28.

International Business Machines (NYSE:IBM - Get Free Report) last released 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 company had revenue of $14.54 billion for 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%. The firm's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the company earned $1.68 earnings per share. On average, analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

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

International Business Machines Company 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.