Yoffe Investment Management LLC Takes $2.88 Million Position in International Business Machines Co. (NYSE:IBM)

Yoffe Investment Management LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,096 shares of the technology company's stock, valued at approximately $2,879,000. International Business Machines makes up approximately 2.9% of Yoffe Investment Management LLC's portfolio, making the stock its 3rd largest holding.

Other institutional investors have also recently bought and sold shares of the company. Blue Zone Wealth Advisors LLC acquired a new stake in shares of International Business Machines during the 4th quarter valued at about $242,000. Brady Martz Wealth Solutions LLC bought a new position in International Business Machines during the fourth quarter valued at approximately $1,940,000. Tranquilli Financial Advisor LLC acquired a new stake in International Business Machines in the fourth quarter valued at approximately $373,000. Truist Financial Corp grew its position 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 worth $178,296,000 after acquiring an additional 49,591 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of International Business Machines by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company's stock worth $16,615,000 after purchasing an additional 4,625 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Stock Performance

Shares of IBM stock traded down $16.18 during mid-day trading on Friday, reaching $227.31. The stock had a trading volume of 7,402,799 shares, compared to its average volume of 4,141,809. The firm has a market cap of $210.78 billion, a PE ratio of 35.46, a P/E/G ratio of 5.81 and a beta of 0.67. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45. The firm's 50 day simple moving average is $251.46 and its 200 day simple moving average is $232.41.

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International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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%. On average, 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 declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines's dividend payout ratio (DPR) is presently 104.21%.

Insiders Place Their Bets

In other International Business Machines 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 value of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares in the company, 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 hyperlink. Corporate insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on IBM shares. 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. Royal Bank of Canada reissued an "outperform" rating and set a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. Bank of America boosted their target price on International Business Machines from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Morgan Stanley increased their price target on International Business Machines from $217.00 to $228.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. Finally, UBS Group boosted their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the stock a "sell" rating in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of "Hold" and an average target price of $231.13.

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.