International Business Machines Co. (NYSE:IBM) Shares Acquired by Westpac Banking Corp

Westpac Banking Corp increased its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 588.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,800 shares of the technology company's stock after buying an additional 40,000 shares during the period. International Business Machines comprises about 0.7% of Westpac Banking Corp's holdings, making the stock its 28th largest position. Westpac Banking Corp's holdings in International Business Machines were worth $10,288,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in IBM. Blue Zone Wealth Advisors LLC purchased a new position in International Business Machines during the fourth quarter worth $242,000. Brady Martz Wealth Solutions LLC acquired a new stake in shares of International Business Machines during the fourth quarter valued at $1,940,000. Tranquilli Financial Advisor LLC purchased a new stake in International Business Machines during the 4th quarter worth about $373,000. Truist Financial Corp raised its stake in International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock valued at $178,296,000 after purchasing an additional 49,591 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in International Business Machines by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company's stock valued at $16,615,000 after purchasing an additional 4,625 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. Bank of America boosted their price target on International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Jefferies Financial Group reduced their price target on International Business Machines from $270.00 to $265.00 and set a "hold" rating on the stock in a research note on Monday. Oppenheimer assumed coverage on International Business Machines in a research report on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price objective for the company. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $250.00 target price on shares of International Business Machines in a research report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, International Business Machines has a consensus rating of "Hold" and a consensus price target of $231.13.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of the firm's stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.18% of the company's stock.

International Business Machines Stock Down 2.6 %

Shares of NYSE:IBM traded down $6.50 during midday trading on Thursday, hitting $243.49. 5,305,333 shares of the company's stock traded hands, compared to its average volume of 4,124,184. The firm's fifty day moving average price is $251.41 and its two-hundred day moving average price is $232.34. 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 Co. has a twelve month low of $162.62 and a twelve month high of $266.45. The company has a market cap of $225.77 billion, a PE ratio of 37.99, a P/E/G ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping analysts' consensus estimates 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, equities research analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.74%. The ex-dividend date was Monday, February 10th. International Business Machines's dividend payout ratio (DPR) is 104.21%.

International Business Machines Company 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.