International Business Machines Co. (NYSE:IBM) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,612,701 shares of the technology company's stock after purchasing an additional 123,967 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.17% of International Business Machines worth $359,068,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in IBM. Compass Financial Services Inc purchased a new position in shares of International Business Machines during the 4th quarter worth about $26,000. Vision Financial Markets LLC purchased a new position in International Business Machines during the fourth quarter worth approximately $31,000. Avondale Wealth Management boosted its holdings in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company's stock valued at $34,000 after purchasing an additional 56 shares during the last quarter. Valued Wealth Advisors LLC grew its stake in shares of International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock valued at $35,000 after buying an additional 90 shares during the period. Finally, Rialto Wealth Management LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth $35,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. The Goldman Sachs Group reiterated a "buy" rating on shares of International Business Machines in a report on Wednesday, February 5th. Bank of America lifted their price objective on International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a research note 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. Jefferies Financial Group lifted their price target on shares of International Business Machines from $245.00 to $270.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Two research 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. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $231.44.

Remove Ads

International Business Machines Stock Down 1.0 %

IBM stock traded down $2.38 during midday trading on Friday, hitting $243.83. 3,125,152 shares of the company's stock were exchanged, compared to its average volume of 4,089,823. The stock has a market capitalization of $226.10 billion, a price-to-earnings ratio of 38.04, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. 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 firm has a 50 day moving average price of $249.51 and a 200-day moving average price of $231.47. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (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%. On average, analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid 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 2.74%. International Business Machines's payout ratio is 104.21%.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the company'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 transaction of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly owns 45,007 shares of the company's stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by corporate insiders.

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.