Canada Pension Plan Investment Board Purchases 205,434 Shares of International Business Machines Co. (NYSE:IBM)

Canada Pension Plan Investment Board lifted its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 1,165.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 223,065 shares of the technology company's stock after buying an additional 205,434 shares during the period. Canada Pension Plan Investment Board's holdings in International Business Machines were worth $49,036,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of IBM. Compass Financial Services Inc bought a new position in International Business Machines during the fourth quarter worth about $26,000. Vision Financial Markets LLC bought a new position in shares of International Business Machines in the fourth quarter valued at about $31,000. Avondale Wealth Management boosted its holdings in shares of International Business Machines by 56.0% during the 4th 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 period. Valued Wealth Advisors LLC raised its holdings in International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock valued at $35,000 after acquiring an additional 90 shares during the period. Finally, Rialto Wealth Management LLC acquired a new stake in International Business Machines during the fourth quarter worth approximately $35,000. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

NYSE IBM traded up $3.30 during trading on Wednesday, hitting $244.20. 2,228,086 shares of the company's stock traded hands, compared to its average volume of 4,232,175. The stock has a market capitalization of $226.44 billion, a price-to-earnings ratio of 38.10, a PEG ratio of 5.81 and a beta of 0.67. The business has a 50 day moving average of $246.87 and a 200-day moving average of $233.79. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

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

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.74%. International Business Machines's payout ratio is 104.21%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on IBM shares. Morgan Stanley raised 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 report on Thursday, January 30th. Royal Bank of Canada reiterated an "outperform" rating and set a $276.00 price objective on shares of International Business Machines in a research note on Monday, April 14th. Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Sanford C. Bernstein upped their target price on International Business Machines from $210.00 to $215.00 and gave the company a "market perform" rating in a research report on Friday, January 3rd. Finally, UBS Group reiterated a "sell" rating on shares of International Business Machines in a research note on Wednesday. Two 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 data from MarketBeat.com, International Business Machines currently has an average rating of "Hold" and a consensus price target of $232.75.

Insider Activity

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company's stock.

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.