First Commonwealth Financial Corp PA Purchases New Position in International Business Machines Co. (NYSE:IBM)

First Commonwealth Financial Corp PA purchased a new position in shares of International Business Machines Co. (NYSE:IBM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,317 shares of the technology company's stock, valued at approximately $290,000.

A number of other institutional investors have also recently made changes to their positions in IBM. JBR Co Financial Management Inc raised its stake in International Business Machines by 0.6% in the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company's stock worth $1,405,000 after acquiring an additional 40 shares during the last quarter. Schechter Investment Advisors LLC lifted its holdings in shares of International Business Machines by 0.7% during the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock worth $1,396,000 after purchasing an additional 43 shares during the period. Titleist Asset Management LLC boosted its position in International Business Machines by 3.1% in the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock valued at $315,000 after buying an additional 43 shares during the last quarter. Callan Capital LLC increased its holdings in International Business Machines by 2.4% in the 4th quarter. Callan Capital LLC now owns 1,870 shares of the technology company's stock worth $411,000 after buying an additional 44 shares during the period. Finally, Marks Group Wealth Management Inc raised its position in International Business Machines by 0.4% during the 4th quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company's stock worth $2,292,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction dated 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 sale, the senior vice president now owns 45,007 shares of the company's stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by company insiders.

International Business Machines Price Performance

NYSE IBM traded down $0.12 during mid-day trading on Friday, hitting $238.45. The stock had a trading volume of 4,626,569 shares, compared to its average volume of 4,232,328. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $266.45. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The firm's 50 day moving average is $247.61 and its 200 day moving average is $233.58. The stock has a market capitalization of $221.10 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating 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%. Equities research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.80%. The ex-dividend date was Monday, February 10th. International Business Machines's dividend payout ratio is currently 104.21%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $276.00 price objective on shares of International Business Machines in a research note on Monday, April 14th. Wedbush began coverage on International Business Machines in a research note on Monday, February 3rd. They set an "outperform" rating for the company. Oppenheimer started coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 target price on the stock. Sanford C. Bernstein boosted their price target on International Business Machines from $210.00 to $215.00 and gave the company a "market perform" rating in a report on Friday, January 3rd. Finally, Jefferies Financial Group dropped their price objective on shares of International Business Machines from $270.00 to $265.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Two investment 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 company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $232.75.

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.