Westpac Banking Corp Acquires 40,000 Shares of International Business Machines Co. (NYSE:IBM)

Westpac Banking Corp increased its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 588.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,800 shares of the technology company's stock after buying an additional 40,000 shares during the period. International Business Machines accounts for 0.7% of Westpac Banking Corp's holdings, making the stock its 28th biggest holding. Westpac Banking Corp's holdings in International Business Machines were worth $10,288,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of IBM. Vanguard Group Inc. lifted its stake in shares of International Business Machines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock valued at $20,189,023,000 after purchasing an additional 1,539,888 shares during the period. State Street Corp increased its holdings in International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company's stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares in the last quarter. Geode Capital Management LLC lifted its stake in International Business Machines by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company's stock valued at $4,589,145,000 after buying an additional 427,499 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of International Business Machines by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company's stock worth $1,465,223,000 after buying an additional 126,547 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $1,236,176,000. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Stock Down 6.6 %

Shares of IBM traded down $16.18 during trading hours on Friday, reaching $227.31. 7,402,799 shares of the stock traded hands, compared to its average volume of 4,150,317. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. The company has a market cap of $210.78 billion, a price-to-earnings ratio of 35.46, a PEG ratio of 5.81 and a beta of 0.67. The stock has a fifty day simple moving average of $251.46 and a 200 day simple moving average of $232.54. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, equities analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.94%. International Business Machines's dividend payout ratio (DPR) is presently 104.21%.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares of the company's stock, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Sanford C. Bernstein boosted their target price on shares of International Business Machines from $210.00 to $215.00 and gave the company a "market perform" rating in a research report on Friday, January 3rd. Wedbush assumed coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an "outperform" rating on the stock. Jefferies Financial Group decreased their target price on International Business Machines from $270.00 to $265.00 and set a "hold" rating for the company in a research report on Monday, March 31st. BMO Capital Markets increased their price target on International Business Machines from $260.00 to $280.00 and gave the stock a "market perform" rating in a report on Thursday, January 30th. Finally, StockNews.com downgraded International Business Machines from a "buy" rating to a "hold" rating in a report on Saturday, March 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $231.13.

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.