Haverford Trust Co Raises Stock Position in International Business Machines Co. (NYSE:IBM)

Haverford Trust Co grew its holdings in International Business Machines Co. (NYSE:IBM) by 2.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 18,659 shares of the technology company’s stock after acquiring an additional 525 shares during the period. Haverford Trust Co’s holdings in International Business Machines were worth $4,102,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Lynx Investment Advisory lifted its stake in International Business Machines by 2.5% in the 4th quarter. Lynx Investment Advisory now owns 3,549 shares of the technology company’s stock worth $780,000 after purchasing an additional 85 shares in the last quarter. Woodmont Investment Counsel LLC lifted its position in shares of International Business Machines by 12.9% in the fourth quarter. Woodmont Investment Counsel LLC now owns 2,949 shares of the technology company’s stock worth $648,000 after buying an additional 337 shares in the last quarter. Corebridge Financial Inc. boosted its stake in International Business Machines by 2.7% during the fourth quarter. Corebridge Financial Inc. now owns 227,908 shares of the technology company’s stock valued at $50,101,000 after buying an additional 6,056 shares during the last quarter. Congress Wealth Management LLC DE increased its stake in International Business Machines by 10.1% in the 4th quarter. Congress Wealth Management LLC DE now owns 21,730 shares of the technology company’s stock worth $4,777,000 after acquiring an additional 1,987 shares during the last quarter. Finally, Clune & Associates LTD. purchased a new stake in shares of International Business Machines during the 4th quarter worth approximately $230,000. Institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

International Business Machines Price Performance

IBM opened at $248.49 on Tuesday. 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 business’s fifty day simple moving average is $247.40 and its 200-day simple moving average is $230.42. The company has a market capitalization of $230.42 billion, a price-to-earnings ratio of 38.77, a PEG ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) 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%. On average, equities research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.69%. International Business Machines’s dividend payout ratio is currently 104.21%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Bank of America increased their price target on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. BMO Capital Markets lifted their target price on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Jefferies Financial Group increased their price target on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, International Business Machines has an average rating of “Hold” and an average target price of $231.44.

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.