International Business Machines Co. (NYSE:IBM) Shares Bought by Navellier & Associates Inc.

Navellier & Associates Inc. grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 34.0% during the fourth quarter, Holdings Channel reports. The firm owned 5,507 shares of the technology company’s stock after purchasing an additional 1,397 shares during the period. Navellier & Associates Inc.’s holdings in International Business Machines were worth $1,211,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its holdings in shares of International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after acquiring an additional 166 shares during the period. Blue Zone Wealth Advisors LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at $242,000. Brady Martz Wealth Solutions LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at $373,000. Finally, Philip James Wealth Mangement LLC acquired a new position in shares of International Business Machines in the 3rd quarter valued at $5,117,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on IBM shares. Wedbush started coverage on shares of International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. UBS Group lifted their target price on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. Sanford C. Bernstein lifted their price objective on shares of 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. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Finally, BMO Capital Markets lifted 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. 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Trading Down 1.1 %

NYSE:IBM opened at $261.77 on Friday. The company has a market capitalization of $242.05 billion, a PE ratio of 40.84, a price-to-earnings-growth ratio of 5.81 and a beta of 0.76. 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 52-week low of $162.62 and a 52-week high of $265.72. The stock has a fifty day simple moving average of $235.27 and a 200-day simple moving average of $222.05.

International Business Machines (NYSE:IBM) last released its quarterly 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 return on equity of 38.99% and a net margin of 9.60%. On average, equities research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

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.