Allstate Corp Purchases Shares of 27,383 International Business Machines Co. (NYSE:IBM)

Allstate Corp bought a new position in International Business Machines Co. (NYSE:IBM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 27,383 shares of the technology company's stock, valued at approximately $6,020,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank purchased a new position in shares of International Business Machines in the 4th quarter worth about $1,236,176,000. Raymond James Financial Inc. bought a new position in shares of International Business Machines during the 4th quarter valued at approximately $592,746,000. Holocene Advisors LP bought a new position in shares of International Business Machines during the 3rd quarter valued at approximately $573,306,000. Vanguard Group Inc. raised its holdings in shares of International Business Machines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock worth $20,189,023,000 after purchasing an additional 1,539,888 shares during the period. Finally, State Street Corp lifted its stake in International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company's stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Jefferies Financial Group lowered their target price on International Business Machines from $270.00 to $265.00 and set a "hold" rating on the stock in a research note on Monday. Bank of America upped their price objective 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. The Goldman Sachs Group reiterated a "buy" rating on shares of International Business Machines in a research note on Wednesday, February 5th. UBS Group raised their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the stock a "sell" rating in a report on Tuesday, January 14th. Finally, Wedbush initiated coverage on shares of International Business Machines in a report on Monday, February 3rd. They set an "outperform" rating on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $231.13.

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International Business Machines Price Performance

Shares of NYSE IBM traded up $4.57 during midday trading on Monday, hitting $248.57. 3,738,268 shares of the company's stock were exchanged, compared to its average volume of 4,735,182. The business's fifty day moving average price is $249.51 and its two-hundred day moving average price is $231.62. The company has a market cap of $230.49 billion, a price-to-earnings ratio of 38.75, a PEG ratio of 5.81 and a beta of 0.74. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping analysts' consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, research analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.69%. The ex-dividend date was Monday, February 10th. International Business Machines's dividend payout ratio (DPR) is currently 104.21%.

Insider Transactions at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.18% of the company's stock.

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.