International Business Machines Co. (NYSE:IBM) is First Trust Advisors LP’s 6th Largest Position

First Trust Advisors LP increased its position in shares of International Business Machines Co. (NYSE:IBM) by 26.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,023,989 shares of the technology company’s stock after buying an additional 840,064 shares during the quarter. International Business Machines comprises approximately 0.8% of First Trust Advisors LP’s portfolio, making the stock its 6th largest position. First Trust Advisors LP owned about 0.44% of International Business Machines worth $884,593,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in IBM. Treasurer of the State of North Carolina lifted its holdings in shares of International Business Machines by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock worth $108,942,000 after acquiring an additional 4,131 shares during the last quarter. Blue Zone Wealth Advisors LLC acquired a new position in International Business Machines during the fourth quarter worth $242,000. Brady Martz Wealth Solutions LLC purchased a new position in shares of International Business Machines during the fourth quarter worth $1,940,000. Tranquilli Financial Advisor LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at $373,000. Finally, Truist Financial Corp raised its holdings in shares of International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after buying an additional 49,591 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $238.45 on Friday. The firm’s 50 day moving average is $247.61 and its two-hundred day moving average is $233.49. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $221.10 billion, a P/E ratio of 37.20, a P/E/G ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) 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%. Research analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Insider Activity

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction on 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 transaction, the senior vice president now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

IBM has been the subject of several research reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Sanford C. Bernstein lifted their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. increased their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. UBS Group boosted their price target 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. Finally, BMO Capital Markets increased their price objective on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Two 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, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $232.75.

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.