Pittenger & Anderson Inc. Purchases 50 Shares of International Business Machines Co. (NYSE:IBM)

Pittenger & Anderson Inc. boosted its position in shares of International Business Machines Co. (NYSE:IBM) by 0.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,485 shares of the technology company’s stock after buying an additional 50 shares during the quarter. Pittenger & Anderson Inc.’s holdings in International Business Machines were worth $3,404,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creative Planning increased its position in International Business Machines by 5.1% during the 3rd quarter. Creative Planning now owns 300,740 shares of the technology company’s stock valued at $66,488,000 after purchasing an additional 14,677 shares during the period. Stratos Investment Management LLC purchased a new position in International Business Machines during the 3rd quarter valued at $413,000. Embree Financial Group increased its position in International Business Machines by 4.0% during the 3rd quarter. Embree Financial Group now owns 1,595 shares of the technology company’s stock valued at $353,000 after purchasing an additional 62 shares during the period. Chicago Capital LLC increased its position in International Business Machines by 12.3% during the 3rd quarter. Chicago Capital LLC now owns 10,048 shares of the technology company’s stock valued at $2,221,000 after purchasing an additional 1,098 shares during the period. Finally, Veracity Capital LLC increased its position in International Business Machines by 1.5% during the 3rd quarter. Veracity Capital LLC now owns 4,936 shares of the technology company’s stock valued at $1,091,000 after purchasing an additional 74 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports 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 on the stock. Bank of America upped their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. BMO Capital Markets upped their target price on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research report on Monday, January 27th. Finally, StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $260.65 on Monday. The firm’s 50 day moving average price is $232.08 and its 200-day moving average price is $219.64. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $265.72. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $241.01 billion, a PE ratio of 40.66, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76.

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

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

International Business Machines Company 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.