Fisher Funds Management LTD Buys Shares of 83,710 International Business Machines Co. (NYSE:IBM)

Fisher Funds Management LTD bought a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, Holdings Channel reports. The firm bought 83,710 shares of the technology company’s stock, valued at approximately $18,338,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp lifted its stake in International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after acquiring an additional 1,200,803 shares during the period. FMR LLC lifted its stake in International Business Machines by 6.0% during the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after acquiring an additional 294,276 shares during the period. Swiss National Bank lifted its stake in International Business Machines by 0.5% during the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after acquiring an additional 12,400 shares during the period. Holocene Advisors LP bought a new position in International Business Machines during the 3rd quarter valued at about $573,306,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in International Business Machines by 1.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,473,421 shares of the technology company’s stock valued at $546,824,000 after acquiring an additional 32,732 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

NYSE IBM opened at $261.77 on Friday. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $265.72. The stock has a market cap of $242.05 billion, a price-to-earnings ratio of 40.84, a PEG ratio of 5.81 and a beta of 0.76. The company’s 50 day moving average is $235.27 and its two-hundred day moving average is $222.05. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Analysts Set New Price Targets

Several research firms have issued reports on IBM. JPMorgan Chase & Co. upped their target price on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Bank of America increased their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. UBS Group increased their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group increased their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $231.44.

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.