Texas Bank & Trust Co purchased a new stake in International Business Machines Co. (NYSE:IBM - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,302 shares of the technology company's stock, valued at approximately $1,605,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of IBM. JBR Co Financial Management Inc boosted its holdings in International Business Machines by 0.6% during the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company's stock worth $1,405,000 after buying an additional 40 shares in the last quarter. Wealth Dimensions Group Ltd. raised its position in International Business Machines by 1.0% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock valued at $873,000 after purchasing an additional 40 shares during the last quarter. Schechter Investment Advisors LLC raised its holdings in shares of International Business Machines by 0.7% in the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock valued at $1,396,000 after buying an additional 43 shares during the last quarter. Titleist Asset Management LLC boosted its position in International Business Machines by 3.1% during the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock worth $315,000 after purchasing an additional 43 shares in the last quarter. Finally, Callan Capital LLC increased its position in shares of International Business Machines by 2.4% in the fourth quarter. Callan Capital LLC now owns 1,870 shares of the technology company's stock valued at $411,000 after buying an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.
International Business Machines Trading Down 0.1%
NYSE:IBM traded down $0.25 during trading hours on Thursday, reaching $260.62. 1,307,500 shares of the company were exchanged, compared to its average volume of 4,200,602. The firm has a market cap of $242.22 billion, a price-to-earnings ratio of 40.65, a PEG ratio of 5.81 and a beta of 0.64. The stock has a 50 day simple moving average of $244.79 and a 200 day simple moving average of $237.48. International Business Machines Co. has a 52-week low of $163.53 and a 52-week high of $269.28. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.
International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter in the prior year, the company earned $1.68 EPS. The company's revenue was up .5% on a year-over-year basis. As a group, analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.
International Business Machines Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid 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 dividend yield of 2.58%. International Business Machines's dividend payout ratio is 115.66%.
Analyst Ratings Changes
IBM has been the topic of a number of research reports. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Oppenheimer initiated coverage on shares of 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. 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. Morgan Stanley dropped their price target on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Finally, Bank of America upped their price objective on International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $249.06.
Check Out Our Latest Analysis on International Business Machines
Insider Activity at International Business Machines
In related 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 value of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.18% of the company's stock.
International Business Machines Profile
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Free Report)
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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