First Financial Group Corp Makes New Investment in International Business Machines Co. (NYSE:IBM)

First Financial Group Corp bought a new stake in shares of International Business Machines Co. (NYSE:IBM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 955 shares of the technology company’s stock, valued at approximately $210,000.

A number of other hedge funds also recently made changes to their positions in IBM. Pettinga Financial Advisors LLC purchased a new stake in shares of International Business Machines during the 3rd quarter worth approximately $221,000. United Bank increased its position in International Business Machines by 53.3% in the third quarter. United Bank now owns 5,628 shares of the technology company’s stock worth $1,244,000 after buying an additional 1,956 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of International Business Machines by 12.4% during the 3rd quarter. Harbour Investments Inc. now owns 6,205 shares of the technology company’s stock valued at $1,372,000 after buying an additional 686 shares during the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of International Business Machines by 17.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 26,017 shares of the technology company’s stock valued at $5,752,000 after buying an additional 3,789 shares during the last quarter. Finally, Balboa Wealth Partners grew its stake in shares of International Business Machines by 59.9% during the 3rd quarter. Balboa Wealth Partners now owns 2,430 shares of the technology company’s stock worth $537,000 after acquiring an additional 910 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

IBM stock opened at $248.15 on Friday. The firm has a 50 day simple moving average of $244.23 and a two-hundred day simple moving average of $228.05. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The stock has a market cap of $230.10 billion, a PE ratio of 38.71, a P/E/G ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating 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, analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business 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. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.69%. International Business Machines’s payout ratio is currently 104.21%.

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 shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of several recent research reports. Wedbush started coverage on shares of International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Morgan Stanley boosted their target price on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, BMO Capital Markets increased their price objective 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $231.44.

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.