Adams Diversified Equity Fund Inc. Purchases Shares of 129,700 International Business Machines Co. (NYSE:IBM)

Adams Diversified Equity Fund Inc. bought a new position in shares of International Business Machines Co. (NYSE:IBM - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 129,700 shares of the technology company's stock, valued at approximately $28,512,000. International Business Machines comprises 1.1% of Adams Diversified Equity Fund Inc.'s holdings, making the stock its 20th biggest position.

Other hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its position 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 fourth quarter valued at about $242,000. Brady Martz Wealth Solutions LLC purchased a new position in shares of International Business Machines in the fourth quarter worth about $1,940,000. Tranquilli Financial Advisor LLC purchased a new stake in International Business Machines in the fourth quarter valued at approximately $373,000. Finally, Truist Financial Corp increased its holdings in International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock worth $178,296,000 after buying an additional 49,591 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now owns 45,007 shares of the company's stock, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company's stock.

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International Business Machines Price Performance

IBM stock traded up $4.62 during midday trading on Monday, reaching $248.49. The stock had a trading volume of 4,752,377 shares, compared to its average volume of 3,904,111. The company's fifty day simple moving average is $247.40 and its 200 day simple moving average is $230.42. 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 company has a market cap of $230.42 billion, a price-to-earnings ratio of 38.77, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data 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 predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

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

Analyst Ratings Changes

IBM has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective 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. Sanford C. Bernstein boosted their target price 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. Wedbush initiated coverage on International Business Machines in a research report on Monday, February 3rd. They set an "outperform" rating on the stock. UBS Group boosted their price objective on International Business Machines from $150.00 to $160.00 and gave the company a "sell" rating in a report on Tuesday, January 14th. Finally, BMO Capital Markets raised 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target 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.