Putney Financial Group LLC Invests $1.27 Million in International Business Machines Co. (NYSE:IBM)

Putney Financial Group LLC bought a new position in shares of International Business Machines Co. (NYSE:IBM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,786 shares of the technology company's stock, valued at approximately $1,272,000. International Business Machines accounts for approximately 0.9% of Putney Financial Group LLC's holdings, making the stock its 20th biggest position.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Capital World Investors raised its position in International Business Machines by 413.5% in 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 during the last quarter. Norges Bank bought a new position in International Business Machines in the 4th quarter valued at $1,236,176,000. Raymond James Financial Inc. acquired a new stake in shares of International Business Machines in the 4th quarter valued at $592,746,000. Northern Trust Corp increased its stake in shares of International Business Machines by 18.6% in 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 buying an additional 1,704,209 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of International Business Machines by 1.7% in 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 buying an additional 1,539,888 shares during the period. Institutional investors own 58.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IBM. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Morgan Stanley decreased their target price on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. KGI Securities set a $242.00 target price on International Business Machines and gave the company a "hold" rating in a research note on Thursday, April 24th. BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Citigroup restated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of "Hold" and an average price target of $249.06.

International Business Machines Stock Performance

Shares of NYSE IBM traded up $4.54 during trading hours on Tuesday, reaching $263.17. 3,281,641 shares of the stock were exchanged, compared to its average volume of 4,211,353. The firm has a market capitalization of $244.59 billion, a price-to-earnings ratio of 41.06, 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 Co. has a 52 week low of $163.53 and a 52 week high of $269.28. The stock's fifty day simple moving average is $245.26 and its 200 day simple moving average is $238.85.

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

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a $1.68 dividend. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.55%. International Business Machines's dividend payout ratio (DPR) is 115.66%.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.18% of the company's stock.

About International Business Machines

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.