Zurich Insurance Group Ltd FI Has $63.93 Million Position in International Business Machines Co. (NYSE:IBM)

Zurich Insurance Group Ltd FI boosted its position in International Business Machines Co. (NYSE:IBM) by 2,519.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 290,806 shares of the technology company’s stock after purchasing an additional 279,706 shares during the period. Zurich Insurance Group Ltd FI’s holdings in International Business Machines were worth $63,928,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Tallon Kerry Patrick acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $902,000. Cascade Investment Group Inc. increased its stake in shares of International Business Machines by 3.2% in the fourth quarter. Cascade Investment Group Inc. now owns 6,108 shares of the technology company’s stock valued at $1,343,000 after buying an additional 189 shares during the period. RoundAngle Advisors LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $1,847,000. Terra Nova Asset Management LLC increased its stake in shares of International Business Machines by 2.0% in the fourth quarter. Terra Nova Asset Management LLC now owns 10,844 shares of the technology company’s stock valued at $2,384,000 after buying an additional 212 shares during the period. Finally, Diversify Wealth Management LLC increased its stake in shares of International Business Machines by 5.3% in the fourth quarter. Diversify Wealth Management LLC now owns 15,577 shares of the technology company’s stock valued at $3,423,000 after buying an additional 787 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the subject of several recent research reports. UBS Group reissued a “sell” rating and issued a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. upped their target price 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. Morgan Stanley cut their target price on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Citigroup restated an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. Finally, KGI Securities set a $242.00 target price on International Business Machines and gave the company a “hold” rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $249.06.

Insider Transactions at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the 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 directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This represents a 37.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

International Business Machines Stock Up 0.6%

Shares of NYSE:IBM opened at $268.33 on Tuesday. The business’s 50 day simple moving average is $244.11 and its two-hundred day simple moving average is $237.11. The firm has a market cap of $249.39 billion, a P/E ratio of 41.86, a PEG ratio of 5.81 and a beta of 0.64. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a 52-week low of $163.53 and a 52-week high of $269.14.

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

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid a $1.68 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.50%. International Business Machines’s dividend payout ratio is 115.66%.

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.