2,121 Shares in International Business Machines Co. (NYSE:IBM) Acquired by Pennington Partners & CO. LLC

Pennington Partners & CO. LLC bought a new stake in International Business Machines Co. (NYSE:IBM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,121 shares of the technology company's stock, valued at approximately $466,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital World Investors raised its holdings in shares of International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares during the last quarter. Norges Bank acquired a new position in International Business Machines in the fourth quarter valued at approximately $1,236,176,000. Raymond James Financial Inc. acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $592,746,000. Northern Trust Corp grew its stake in shares of 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 worth $2,384,275,000 after purchasing an additional 1,704,209 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of 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. Institutional investors and hedge funds own 58.96% of the company's stock.

Insider Activity

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the business's 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 completion of the transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

IBM has been the topic of several analyst reports. Oppenheimer assumed coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price target on the stock. Bank of America lifted their price target on International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their price target on International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. KGI Securities set a $242.00 price objective on International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. Finally, StockNews.com lowered International Business Machines from a "buy" rating to a "hold" rating in a research report on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, International Business Machines currently has an average rating of "Hold" and a consensus target price of $248.50.

International Business Machines Price Performance

IBM traded up $5.83 on Friday, reaching $245.49. 3,731,241 shares of the company's stock were exchanged, compared to its average volume of 4,210,203. The stock has a market cap of $228.16 billion, a PE ratio of 38.30, 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 current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a twelve month low of $163.53 and a twelve month high of $266.45. The stock's fifty day moving average price is $243.19 and its 200-day moving average price is $234.15.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly 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 during the quarter, compared to analyst estimates of $14.41 billion. During the same period in the prior year, the business earned $1.68 earnings per share. The business's revenue was up .5% compared to the same quarter last year. Sell-side analysts expect 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. Investors of record on Friday, May 9th will be issued a $1.68 dividend. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.74%. International Business Machines's dividend payout ratio is currently 115.66%.

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.