iA Global Asset Management Inc. Acquires 3,255 Shares of International Business Machines Co. (NYSE:IBM)

iA Global Asset Management Inc. raised its holdings in shares of International Business Machines Co. (NYSE:IBM) by 152.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,397 shares of the technology company’s stock after buying an additional 3,255 shares during the period. iA Global Asset Management Inc.’s holdings in International Business Machines were worth $1,186,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. United Bank increased its holdings in shares of 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 purchasing an additional 1,956 shares during the last quarter. Quest Partners LLC increased its holdings in shares of International Business Machines by 23,700.0% in the third quarter. Quest Partners LLC now owns 238 shares of the technology company’s stock worth $53,000 after purchasing an additional 237 shares during the last quarter. Citizens Financial Group Inc. RI increased its holdings in shares of International Business Machines by 2.1% in the third quarter. Citizens Financial Group Inc. RI now owns 14,815 shares of the technology company’s stock worth $3,275,000 after purchasing an additional 302 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of International Business Machines by 23.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 95,529 shares of the technology company’s stock worth $21,120,000 after purchasing an additional 18,340 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in shares of International Business Machines by 587.1% in the third quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock worth $134,262,000 after purchasing an additional 536,785 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IBM shares. BMO Capital Markets lifted their target price 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. Morgan Stanley lifted their price target on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research 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 stock a “neutral” rating in a research report on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Finally, Jefferies Financial Group lifted their price target on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $231.44.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by company insiders.

International Business Machines Stock Up 0.2 %

Shares of NYSE:IBM opened at $243.75 on Friday. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. The business has a 50 day simple moving average of $246.77 and a two-hundred day simple moving average of $229.71. The firm has a market capitalization of $226.02 billion, a PE ratio of 38.03, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

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

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.74%. International Business Machines’s payout ratio is 104.21%.

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.