Tallon Kerry Patrick Acquires New Shares in International Business Machines Co. (NYSE:IBM)

Tallon Kerry Patrick bought a new position in shares of International Business Machines Co. (NYSE:IBM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 4,102 shares of the technology company's stock, valued at approximately $902,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. raised its stake in shares of International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company's stock valued at $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC acquired a new stake in International Business Machines in the 3rd quarter valued at about $29,000. Avondale Wealth Management boosted its stake 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 buying an additional 56 shares during the period. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of International Business Machines during the second quarter worth about $36,000. Finally, Modus Advisors LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth approximately $40,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on IBM. Royal Bank of Canada reiterated an "outperform" rating and set a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. StockNews.com lowered International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th. The Goldman Sachs Group lifted their price target on International Business Machines from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Jefferies Financial Group increased their price objective on International Business Machines from $200.00 to $245.00 and gave the company a "hold" rating in a report on Monday, October 21st. Finally, Bank of America boosted their target price on International Business Machines from $209.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $215.81.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is currently owned by insiders.

International Business Machines Stock Performance

Shares of NYSE:IBM traded up $2.07 during trading on Friday, reaching $224.73. The company had a trading volume of 5,481,686 shares, compared to its average volume of 3,432,262. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $239.35. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The stock's fifty day moving average price is $222.65 and its 200 day moving average price is $210.31. The firm has a market capitalization of $207.80 billion, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 4.71 and a beta of 0.74.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion for the quarter, compared to analysts' expectations of $15.08 billion. During the same period in the previous year, the company posted $2.20 EPS. International Business Machines's revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts predict that International Business Machines Co. will post 10.16 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Tuesday, November 12th. International Business Machines's dividend payout ratio is presently 97.23%.

About International Business Machines

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.