iA Global Asset Management Inc. Has $1.19 Million Stake in International Business Machines Co. (NYSE:IBM)

iA Global Asset Management Inc. boosted its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 152.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,397 shares of the technology company's stock after purchasing an additional 3,255 shares during the period. iA Global Asset Management Inc.'s holdings in International Business Machines were worth $1,186,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in IBM. Blue Zone Wealth Advisors LLC acquired a new position in shares of International Business Machines in the fourth quarter worth $242,000. Brady Martz Wealth Solutions LLC acquired a new position in International Business Machines in the 4th quarter worth about $1,940,000. Tranquilli Financial Advisor LLC acquired a new stake in shares of International Business Machines during the 4th quarter valued at about $373,000. Truist Financial Corp grew its stake in shares of International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock valued at $178,296,000 after buying an additional 49,591 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in International Business Machines by 6.5% in the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company's stock worth $16,615,000 after buying an additional 4,625 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Price Performance

Shares of IBM stock traded up $1.56 during trading hours on Tuesday, reaching $250.01. 3,132,915 shares of the company were exchanged, compared to its average volume of 3,901,451. 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 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. The stock's fifty day moving average is $247.40 and its two-hundred day moving average is $230.42. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $266.45.

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International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating analysts' consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Sell-side analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.67%. International Business Machines's dividend payout ratio is currently 104.21%.

Insider Buying and Selling at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares of the company's stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on IBM shares. BMO Capital Markets boosted their target price on shares of International Business Machines from $260.00 to $280.00 and gave the stock a "market perform" rating in a research report on Thursday, January 30th. Morgan Stanley increased their target price on shares of International Business Machines from $217.00 to $228.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. StockNews.com cut International Business Machines from a "buy" rating to a "hold" rating in a research report on Saturday, March 15th. UBS Group increased their price objective on International Business Machines from $150.00 to $160.00 and gave the company a "sell" rating in a research report on Tuesday, January 14th. Finally, Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price 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.