Fox Run Management L.L.C. Acquires Shares of 11,196 International Business Machines Co. (NYSE:IBM)

Fox Run Management L.L.C. acquired a new stake in International Business Machines Co. (NYSE:IBM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 11,196 shares of the technology company's stock, valued at approximately $2,461,000. International Business Machines makes up approximately 0.4% of Fox Run Management L.L.C.'s investment portfolio, making the stock its 6th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JBR Co Financial Management Inc boosted its stake in International Business Machines by 0.6% during the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company's stock valued at $1,405,000 after buying an additional 40 shares during the last quarter. Schechter Investment Advisors LLC raised its holdings in shares of International Business Machines by 0.7% during the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock worth $1,396,000 after acquiring an additional 43 shares in the last quarter. Callan Capital LLC boosted its position in shares of International Business Machines by 2.4% during the 4th quarter. Callan Capital LLC now owns 1,870 shares of the technology company's stock valued at $411,000 after acquiring an additional 44 shares during the last quarter. Marks Group Wealth Management Inc increased its position in International Business Machines by 0.4% in the fourth quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company's stock worth $2,292,000 after purchasing an additional 45 shares during the last quarter. Finally, Tower Wealth Partners Inc. raised its stake in International Business Machines by 1.9% during the fourth quarter. Tower Wealth Partners Inc. now owns 2,376 shares of the technology company's stock valued at $522,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 58.96% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages have commented on IBM. StockNews.com cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Saturday, March 15th. BMO Capital Markets boosted their price objective on International Business Machines from $260.00 to $280.00 and gave the stock a "market perform" rating in a research note on Thursday, January 30th. The Goldman Sachs Group reissued a "buy" rating on shares of International Business Machines in a research report on Wednesday, February 5th. Oppenheimer initiated coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price objective for the company. Finally, Jefferies Financial Group increased 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 note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $231.44.

International Business Machines Stock Up 0.6 %

Shares of IBM stock traded up $1.56 during trading hours on Tuesday, reaching $250.01. 3,132,915 shares of the company's stock were exchanged, compared to its average volume of 3,902,187. 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 company has a market cap of $231.83 billion, a price-to-earnings ratio of 39.00, a P/E/G ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $266.45. The stock's 50 day moving average is $248.04 and its 200-day moving average is $230.76.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results 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%. Analysts predict 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 declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.67%. International Business Machines's dividend payout ratio is currently 104.21%.

Insiders Place Their Bets

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by insiders.

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.