CIBC Asset Management Inc Has $38.82 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

CIBC Asset Management Inc raised its holdings in International Business Machines Co. (NYSE:IBM) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 176,580 shares of the technology company’s stock after purchasing an additional 8,309 shares during the quarter. CIBC Asset Management Inc’s holdings in International Business Machines were worth $38,818,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of IBM. Compass Financial Services Inc bought a new position in shares of International Business Machines in the fourth quarter worth about $26,000. Hazlett Burt & Watson Inc. lifted its stake in shares of International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of International Business Machines during the 3rd quarter valued at $29,000. Avondale Wealth Management increased its holdings in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares in the last quarter. Finally, Valued Wealth Advisors LLC grew its holdings in shares of International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 0.6 %

Shares of IBM opened at $260.65 on Monday. The firm has a market cap of $241.01 billion, a P/E ratio of 40.66, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The business has a 50-day moving average of $232.08 and a 200 day moving average of $219.64.

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, beating 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%. As a group, research analysts forecast that International Business Machines Co. will post 10.75 EPS for the current year.

International Business Machines Dividend Announcement

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

Analyst Ratings Changes

IBM has been the subject of a number of recent research reports. Bank of America increased their price objective on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Morgan Stanley increased their price target on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Oppenheimer started coverage on International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price on the stock. Sanford C. Bernstein upped their target price on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Finally, Wedbush began coverage on International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus target price 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.