Charles Schwab Trust Co Acquires 1,217 Shares of International Business Machines Co. (NYSE:IBM)

Charles Schwab Trust Co increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 58.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,300 shares of the technology company’s stock after purchasing an additional 1,217 shares during the period. Charles Schwab Trust Co’s holdings in International Business Machines were worth $725,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in IBM. Sei Investments Co. raised its holdings in shares of International Business Machines by 18.6% during the second quarter. Sei Investments Co. now owns 250,229 shares of the technology company’s stock valued at $43,276,000 after purchasing an additional 39,212 shares during the period. Fairscale Capital LLC bought a new stake in International Business Machines in the 2nd quarter valued at about $72,000. EverSource Wealth Advisors LLC raised its stake in International Business Machines by 6.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,555 shares of the technology company’s stock worth $491,000 after buying an additional 150 shares during the period. DRW Securities LLC bought a new position in International Business Machines in the second quarter worth approximately $1,334,000. Finally, Harmony Asset Management LLC grew its stake in International Business Machines by 57.4% in the second quarter. Harmony Asset Management LLC now owns 3,684 shares of the technology company’s stock valued at $637,000 after acquiring an additional 1,343 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Up 0.9 %

Shares of NYSE IBM opened at $224.73 on Tuesday. The business has a 50-day simple moving average of $222.87 and a two-hundred day simple moving average of $211.14. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $239.35. The company has a market cap of $207.80 billion, a P/E ratio of 32.71, a P/E/G ratio of 4.81 and a beta of 0.74. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 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 during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the previous year, the company earned $2.20 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. Research analysts anticipate that International Business Machines Co. will post 10.16 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Jefferies Financial Group boosted their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a report on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group increased their price objective on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, International Business Machines has an average rating of “Hold” and an average target price of $216.87.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is owned by company insiders.

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.