Selway Asset Management Makes New $780,000 Investment in International Business Machines Co. (NYSE:IBM)

Selway Asset Management bought a new position in shares of International Business Machines Co. (NYSE:IBM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,550 shares of the technology company's stock, valued at approximately $780,000.

Several other large investors also recently bought and sold shares of IBM. United Bank raised its holdings in shares of International Business Machines by 53.3% in the 3rd quarter. United Bank now owns 5,628 shares of the technology company's stock valued at $1,244,000 after purchasing an additional 1,956 shares in the last quarter. Edgestream Partners L.P. raised its stake in International Business Machines by 21.1% in the third quarter. Edgestream Partners L.P. now owns 6,304 shares of the technology company's stock valued at $1,394,000 after buying an additional 1,098 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in International Business Machines by 26.6% during the 3rd quarter. Janus Henderson Group PLC now owns 871,064 shares of the technology company's stock worth $192,557,000 after buying an additional 183,141 shares during the last quarter. IHT Wealth Management LLC boosted its position in shares of International Business Machines by 28.0% during the 3rd quarter. IHT Wealth Management LLC now owns 19,829 shares of the technology company's stock worth $4,375,000 after acquiring an additional 4,332 shares in the last quarter. Finally, Pinnacle Family Advisors LLC purchased a new position in shares of International Business Machines in the 3rd quarter valued at about $210,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Insider Buying and Selling at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares of the company's stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.18% of the company's stock.

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Analyst Ratings Changes

IBM has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. StockNews.com cut shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Saturday, March 15th. Oppenheimer assumed coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price target on the stock. Sanford C. Bernstein upped 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 note on Friday, January 3rd. Finally, Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $231.13.

International Business Machines Price Performance

IBM traded down $6.50 on Thursday, hitting $243.49. 5,305,333 shares of the company were exchanged, compared to its average volume of 4,124,184. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $266.45. 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 firm has a market capitalization of $225.77 billion, a P/E ratio of 37.99, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67. The business's fifty day moving average is $251.41 and its 200 day moving average is $232.34.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping 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, sell-side analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The firm 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 annualized dividend and a yield of 2.74%. International Business Machines's dividend payout ratio (DPR) is currently 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.