Townsquare Capital LLC Has $23.28 Million Holdings in International Business Machines Co. (NYSE:IBM)

Townsquare Capital LLC grew its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 20.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,880 shares of the technology company's stock after purchasing an additional 18,295 shares during the quarter. Townsquare Capital LLC's holdings in International Business Machines were worth $23,275,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Compass Financial Services Inc acquired a new position in International Business Machines during the 4th quarter worth $26,000. Vision Financial Markets LLC acquired a new position in shares of International Business Machines in the 4th quarter worth approximately $31,000. Avondale Wealth Management increased 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 acquiring an additional 56 shares during the last quarter. Valued Wealth Advisors LLC raised its position 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 acquiring an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC bought a new position in International Business Machines during the fourth quarter worth $35,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Insiders Place Their Bets

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated 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 directly owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company's stock.

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International Business Machines Price Performance

Shares of International Business Machines stock traded up $1.67 during midday trading on Tuesday, hitting $240.73. 3,361,979 shares of the company were exchanged, compared to its average volume of 4,211,234. The firm has a 50 day simple moving average of $248.67 and a 200-day simple moving average of $233.14. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. The firm has a market cap of $223.22 billion, a P/E ratio of 37.55, a PEG ratio of 5.81 and a beta of 0.67. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM - Get Free Report) last announced its 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%. Research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given 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 2.77%. International Business Machines's dividend payout ratio (DPR) is 104.21%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Bank of America upped their price objective 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. Oppenheimer initiated coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price objective on the stock. UBS Group increased their price target on International Business Machines from $150.00 to $160.00 and gave the company a "sell" rating in a research note on Tuesday, January 14th. Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, Wedbush initiated coverage on International Business Machines in a report on Monday, February 3rd. They issued an "outperform" rating on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $232.75.

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.