International Business Machines Co. (NYSE:IBM) Shares Purchased by Northern Trust Corp

Northern Trust Corp grew its position in International Business Machines Co. (NYSE:IBM - Free Report) by 18.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,845,993 shares of the technology company's stock after buying an additional 1,704,209 shares during the period. Northern Trust Corp owned 1.17% of International Business Machines worth $2,384,275,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Treasurer of the State of North Carolina lifted its holdings in International Business Machines by 0.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock valued at $108,942,000 after acquiring an additional 4,131 shares during the last quarter. Blue Zone Wealth Advisors LLC acquired a new position in International Business Machines in the fourth quarter valued at approximately $242,000. Brady Martz Wealth Solutions LLC acquired a new position in International Business Machines in the fourth quarter valued at approximately $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in International Business Machines in the fourth quarter valued at approximately $373,000. Finally, Truist Financial Corp lifted its holdings in International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock valued at $178,296,000 after acquiring an additional 49,591 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Insiders Place Their Bets

In related news, SVP Robert David Thomas sold 26,543 shares of the company's stock in a transaction 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 transaction, the senior vice president now owns 45,007 shares of the company's stock, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wedbush reiterated an "outperform" rating and issued a $300.00 price objective on shares of International Business Machines in a report on Thursday. JPMorgan Chase & Co. upped their price target on International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Sanford C. Bernstein upped their price target on International Business Machines from $210.00 to $215.00 and gave the stock a "market perform" rating in a research note on Friday, January 3rd. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a research note on Wednesday. Finally, Bank of America upped their price target on International Business Machines from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, International Business Machines presently has an average rating of "Hold" and an average price target of $242.41.

International Business Machines Price Performance

Shares of IBM opened at $232.50 on Monday. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $266.45. The company has a market capitalization of $215.59 billion, a price-to-earnings ratio of 36.27, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67. The firm has a 50-day simple moving average of $245.34 and a 200-day simple moving average of $233.92. 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 earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. 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 disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines's dividend payout ratio is presently 104.21%.

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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Co. (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.