E Fund Management Co. Ltd. Boosts Stock Position in International Business Machines Co. (NYSE:IBM)

E Fund Management Co. Ltd. grew its position in shares of International Business Machines Co. (NYSE:IBM) by 48.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,870 shares of the technology company’s stock after purchasing an additional 8,794 shares during the quarter. E Fund Management Co. Ltd.’s holdings in International Business Machines were worth $5,907,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of IBM. Compass Financial Services Inc purchased a new position in shares of International Business Machines in the fourth quarter worth about $26,000. Hara Capital LLC bought a new position in International Business Machines during the 3rd quarter worth approximately $29,000. Vision Financial Markets LLC purchased a new position in International Business Machines in the 4th quarter worth approximately $31,000. Avondale Wealth Management lifted its position in International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares during the last quarter. Finally, Valued Wealth Advisors LLC boosted its stake in shares of International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after purchasing an additional 90 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of IBM stock opened at $248.54 on Friday. The firm has a market cap of $230.47 billion, a price-to-earnings ratio of 38.77, a PEG ratio of 5.81 and a beta of 0.74. 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 52-week low of $162.62 and a 52-week high of $265.72. The company’s 50 day moving average is $240.52 and its 200 day moving average is $225.74.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wedbush initiated coverage on shares of International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating for the company. BMO Capital Markets upped their price target on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. UBS Group lifted their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Bank of America boosted their target price on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Monday, January 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $231.44.

Insider Buying and Selling at International Business Machines

In other 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 transaction of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.07% of the company’s stock.

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.