Congress Asset Management Co. Has $11.72 Million Stake in International Business Machines Co. (NYSE:IBM)

Congress Asset Management Co. trimmed its holdings in International Business Machines Co. (NYSE:IBM) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,297 shares of the technology company’s stock after selling 117 shares during the period. Congress Asset Management Co.’s holdings in International Business Machines were worth $11,716,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Compass Financial Services Inc acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. raised its position in shares of International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after buying an additional 116 shares in the last quarter. Hara Capital LLC acquired a new stake in shares of International Business Machines in the third quarter valued at approximately $29,000. Avondale Wealth Management raised its position in shares of International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after buying an additional 56 shares in the last quarter. Finally, Valued Wealth Advisors LLC raised its position in shares of International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after buying an additional 90 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $260.65 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $265.72. The stock has a market cap of $241.01 billion, a price-to-earnings ratio of 40.66, a P/E/G ratio of 5.57 and a beta of 0.76. The company’s fifty day moving average is $232.08 and its 200 day moving average is $219.45.

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

International Business Machines Announces Dividend

The company also recently declared 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 is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.56%. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Analyst Upgrades and Downgrades

Several research analysts have commented on IBM shares. Wedbush started coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating for the company. UBS Group boosted their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. BMO Capital Markets boosted their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.