Texas Bank & Trust Co Invests $1.61 Million in International Business Machines Co. (NYSE:IBM)

Texas Bank & Trust Co purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 7,302 shares of the technology company’s stock, valued at approximately $1,605,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tallon Kerry Patrick bought a new position in International Business Machines in the 4th quarter valued at $902,000. Ritholtz Wealth Management grew its holdings in shares of International Business Machines by 10.9% in the fourth quarter. Ritholtz Wealth Management now owns 11,753 shares of the technology company’s stock worth $2,584,000 after purchasing an additional 1,157 shares during the last quarter. Wealthcare Advisory Partners LLC increased its stake in International Business Machines by 0.3% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 18,608 shares of the technology company’s stock worth $4,091,000 after buying an additional 61 shares during the period. Merit Financial Group LLC lifted its holdings in International Business Machines by 20.5% during the 4th quarter. Merit Financial Group LLC now owns 20,825 shares of the technology company’s stock valued at $4,578,000 after buying an additional 3,544 shares in the last quarter. Finally, Brooklyn Investment Group grew its stake in International Business Machines by 1.1% in the 4th quarter. Brooklyn Investment Group now owns 4,992 shares of the technology company’s stock worth $1,097,000 after acquiring an additional 53 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of IBM opened at $266.70 on Friday. The company has a 50 day moving average of $243.74 and a two-hundred day moving average of $236.48. 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 twelve month low of $163.53 and a twelve month high of $267.98. The company has a market cap of $247.87 billion, a price-to-earnings ratio of 41.61, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. During the same quarter last year, the firm earned $1.68 EPS. The business’s quarterly revenue was up .5% on a year-over-year basis. As a group, analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid a dividend of $1.68 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.52%. International Business Machines’s payout ratio is presently 115.66%.

Analysts Set New Price Targets

IBM has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Tuesday, May 13th. Wedbush reissued an “outperform” rating and set a $300.00 price target on shares of International Business Machines in a research report on Wednesday, May 7th. BMO Capital Markets restated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Bank of America upped their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.06.

Insider Activity at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is currently owned by insiders.

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.