Pinnacle Financial Partners Inc Buys 2,406 Shares of International Business Machines Co. (NYSE:IBM)

Pinnacle Financial Partners Inc increased its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 103,924 shares of the technology company's stock after buying an additional 2,406 shares during the period. Pinnacle Financial Partners Inc's holdings in International Business Machines were worth $22,848,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Compass Financial Services Inc purchased a new stake in International Business Machines during the fourth quarter worth about $26,000. Hazlett Burt & Watson Inc. increased its holdings in 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 buying an additional 116 shares during the last quarter. Hara Capital LLC purchased a new stake in International Business Machines during the third quarter worth about $29,000. Avondale Wealth Management increased its holdings in International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company's stock worth $34,000 after buying an additional 56 shares during the last quarter. Finally, Valued Wealth Advisors LLC increased its holdings in International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock worth $35,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Price Performance

Shares of IBM stock traded down $2.97 during trading hours on Friday, hitting $261.77. 5,665,344 shares of the company's stock were exchanged, compared to its average volume of 5,259,826. The company has a market capitalization of $242.05 billion, a PE ratio of 40.84, a PEG ratio of 5.81 and a beta of 0.76. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $265.72. The business's 50 day simple moving average is $235.27 and its 200-day simple moving average is $221.81. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

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, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, equities research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines's dividend payout ratio (DPR) is presently 104.21%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IBM shares. Jefferies Financial Group increased their target price on shares of International Business Machines from $245.00 to $270.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. Wedbush started coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an "outperform" rating for the company. Oppenheimer started coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They set an "outperform" rating and a $320.00 target price for the company. 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. Finally, UBS Group increased their target price on shares of International Business Machines from $150.00 to $160.00 and gave the stock a "sell" rating in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, International Business Machines presently has a consensus rating of "Hold" and an average target price 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.