Contravisory Investment Management Inc. Invests $494,000 in International Business Machines Co. (NYSE:IBM)

Contravisory Investment Management Inc. acquired a new stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,248 shares of the technology company's stock, valued at approximately $494,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. grew its position in shares of International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company's stock worth $29,000 after acquiring an additional 116 shares during the last quarter. Hara Capital LLC acquired a new position in International Business Machines during the 3rd quarter valued at about $29,000. Avondale Wealth Management grew its position in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company's stock worth $34,000 after purchasing an additional 56 shares during the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines in the second quarter valued at approximately $36,000. Finally, Modus Advisors LLC bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $40,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

Shares of NYSE IBM traded up $2.51 during mid-day trading on Thursday, reaching $222.54. The company had a trading volume of 3,318,319 shares, compared to its average volume of 3,125,279. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $239.35. The stock has a market cap of $205.77 billion, a PE ratio of 32.39, a P/E/G ratio of 4.71 and a beta of 0.74. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The company has a 50-day moving average price of $222.47 and a two-hundred day moving average price of $210.23.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the previous year, the company earned $2.20 EPS. The business's revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities analysts anticipate that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date was Tuesday, November 12th. International Business Machines's dividend payout ratio is 97.23%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IBM. Jefferies Financial Group increased their price objective on International Business Machines from $200.00 to $245.00 and gave the stock a "hold" rating in a report on Monday, October 21st. The Goldman Sachs Group increased their price target on International Business Machines from $220.00 to $250.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. BMO Capital Markets lifted their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a "market perform" rating in a research note on Thursday, October 24th. StockNews.com downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th. Finally, Sanford C. Bernstein raised 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 note on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, International Business Machines has a consensus rating of "Hold" and an average price target of $215.81.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares of the company's stock, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.07% of the company's stock.

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.