CIBC Asset Management Inc Acquires 8,309 Shares of International Business Machines Co. (NYSE:IBM)

CIBC Asset Management Inc increased its position in International Business Machines Co. (NYSE:IBM - Free Report) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,580 shares of the technology company's stock after acquiring an additional 8,309 shares during the quarter. CIBC Asset Management Inc's holdings in International Business Machines were worth $38,818,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. State Street Corp boosted its position in shares of 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 acquiring an additional 1,200,803 shares during the period. FMR LLC lifted its position in International Business Machines by 6.0% during the third quarter. FMR LLC now owns 5,195,933 shares of the technology company's stock valued at $1,148,717,000 after purchasing an additional 294,276 shares during the last quarter. Swiss National Bank lifted its position in International Business Machines by 0.5% during the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company's stock valued at $602,819,000 after purchasing an additional 12,400 shares during the last quarter. International Assets Investment Management LLC lifted its position in International Business Machines by 20,324.5% during the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company's stock valued at $600,373,000 after purchasing an additional 2,702,340 shares during the last quarter. Finally, Holocene Advisors LP bought a new stake in International Business Machines during the third quarter valued at approximately $573,306,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Up 0.2 %

Shares of NYSE IBM traded up $0.53 during mid-day trading on Thursday, hitting $264.85. The stock had a trading volume of 4,881,971 shares, compared to its average volume of 4,707,082. 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 price of $234.00 and a two-hundred day moving average price of $220.96. The firm has a market cap of $244.89 billion, a P/E ratio of 41.32, a price-to-earnings-growth ratio of 5.77 and a beta of 0.76. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72.

International Business Machines (NYSE:IBM - Get Free Report) last issued 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 net margin of 9.60% and a return on equity of 38.99%. On average, equities analysts anticipate that International Business Machines Co. will post 10.77 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines's payout ratio is currently 104.21%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IBM. Jefferies Financial Group lifted their target price on shares of International Business Machines from $245.00 to $270.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. 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 research report on Tuesday, January 14th. BMO Capital Markets lifted their target price 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. Bank of America lifted their target price on shares of International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Finally, Wedbush assumed coverage on shares of International Business Machines in a research note on Monday, February 3rd. They set an "outperform" rating on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $231.44.

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.