12,721 Shares in International Business Machines Co. (NYSE:IBM) Bought by MFG Wealth Management Inc.

MFG Wealth Management Inc. bought a new stake in International Business Machines Co. (NYSE:IBM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,721 shares of the technology company’s stock, valued at approximately $2,796,000. International Business Machines accounts for approximately 2.6% of MFG Wealth Management Inc.’s portfolio, making the stock its 13th biggest position.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Redhawk Wealth Advisors Inc. bought a new position in International Business Machines in the third quarter worth approximately $218,000. CX Institutional increased its stake in shares of International Business Machines by 6.0% in the 3rd quarter. CX Institutional now owns 6,982 shares of the technology company’s stock worth $1,544,000 after purchasing an additional 393 shares in the last quarter. Creative Planning raised its holdings in International Business Machines by 5.1% in the 3rd quarter. Creative Planning now owns 300,740 shares of the technology company’s stock worth $66,488,000 after purchasing an additional 14,677 shares during the period. Regatta Capital Group LLC purchased a new position in International Business Machines during the third quarter valued at $213,000. Finally, Crane Advisory LLC bought a new stake in International Business Machines during the third quarter valued at about $221,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Up 0.5 %

Shares of IBM stock opened at $255.86 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $236.58 billion, a price-to-earnings ratio of 39.92, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $265.72. The stock’s 50-day moving average price is $230.70 and its 200-day moving average price is $218.22.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Equities research analysts predict that International Business Machines Co. will post 10.75 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.61%. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Analysts Set New Price Targets

Several research firms have recently commented on IBM. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Stifel Nicolaus raised their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Wedbush assumed coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. Finally, Sanford C. Bernstein lifted their target price on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines 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.