Dahring Cusmano LLC Purchases Shares of 1,703 International Business Machines Co. (NYSE:IBM)

Dahring Cusmano LLC acquired a new position in International Business Machines Co. (NYSE:IBM - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,703 shares of the technology company's stock, valued at approximately $374,000.

A number of other hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. raised its holdings 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 worth $126,000 after buying an additional 166 shares in the last quarter. Blue Zone Wealth Advisors LLC acquired a new position in shares of International Business Machines in the 4th quarter worth approximately $242,000. Brady Martz Wealth Solutions LLC acquired a new position in shares of International Business Machines in the 4th quarter worth approximately $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in shares of International Business Machines in the 4th quarter worth approximately $373,000. Finally, Philip James Wealth Mangement LLC acquired a new position in shares of International Business Machines in the 3rd quarter worth approximately $5,117,000. Institutional investors own 58.96% of the company's stock.

International Business Machines Trading Down 1.1 %

Shares of NYSE:IBM traded down $2.97 during midday trading on Friday, hitting $261.77. The company had a trading volume of 5,665,344 shares, compared to its average volume of 5,259,826. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $265.72. 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 stock has a market cap of $242.05 billion, a price-to-earnings ratio of 40.84, a PEG ratio of 5.81 and a beta of 0.76. The firm has a fifty day simple moving average of $235.27 and a 200 day simple moving average of $221.81.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, analysts predict 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 will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.55%. International Business Machines's dividend payout ratio is presently 104.21%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Sanford C. Bernstein increased their target price on International Business Machines from $210.00 to $215.00 and gave the stock a "market perform" rating in a report on Friday, January 3rd. JPMorgan Chase & Co. raised their price target on International Business Machines from $233.00 to $244.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Bank of America raised their price target on International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, January 30th. BMO Capital Markets raised their price target on International Business Machines from $260.00 to $280.00 and gave the company a "market perform" rating in a report on Thursday, January 30th. Finally, Wedbush initiated coverage on International Business Machines in a report on Monday, February 3rd. They set an "outperform" rating for the company. 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. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average 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.