Putney Financial Group LLC Purchases Shares of 5,786 International Business Machines Co. (NYSE:IBM)

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

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vermillion Wealth Management Inc. bought a new position in shares of International Business Machines during the 4th quarter worth about $116,000. Mackenzie Financial Corp boosted its position in shares of International Business Machines by 10.6% during the 4th quarter. Mackenzie Financial Corp now owns 443,233 shares of the technology company's stock worth $97,436,000 after purchasing an additional 42,557 shares in the last quarter. Forum Financial Management LP boosted its position in shares of International Business Machines by 22.3% during the 4th quarter. Forum Financial Management LP now owns 8,270 shares of the technology company's stock worth $1,818,000 after purchasing an additional 1,506 shares in the last quarter. Griffith & Werner Inc. bought a new position in shares of International Business Machines during the 4th quarter worth about $962,000. Finally, Wealth Management Strategies Inc. bought a new position in shares of International Business Machines during the 4th quarter worth about $507,000. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

Shares of IBM stock traded down $3.03 during trading hours on Wednesday, hitting $260.20. 2,313,214 shares of the company were exchanged, compared to its average volume of 4,203,797. The firm has a fifty day simple moving average of $245.65 and a 200 day simple moving average of $239.02. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 52-week low of $163.53 and a 52-week high of $269.28. The stock has a market capitalization of $241.83 billion, a price-to-earnings ratio of 40.59, a P/E/G ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned $1.68 EPS. Research 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors 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 annualized dividend and a yield of 2.58%. International Business Machines's dividend payout ratio (DPR) is 115.66%.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on IBM. Bank of America upped their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Royal Bank of Canada upped their target price 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. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of International Business Machines in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $249.06.

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.