Foresight Capital Management Advisors Inc. Raises Holdings in International Business Machines Co. (NYSE:IBM)

Foresight Capital Management Advisors Inc. boosted its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,077 shares of the technology company’s stock after purchasing an additional 156 shares during the quarter. International Business Machines comprises 3.6% of Foresight Capital Management Advisors Inc.’s portfolio, making the stock its 5th largest holding. Foresight Capital Management Advisors Inc.’s holdings in International Business Machines were worth $6,172,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its position in International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after purchasing an additional 166 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in International Business Machines in the 2nd quarter valued at approximately $7,160,000. Philip James Wealth Mangement LLC acquired a new stake in shares of International Business Machines during the 3rd quarter worth approximately $5,117,000. Nordea Investment Management AB increased its position in shares of International Business Machines by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock valued at $16,615,000 after purchasing an additional 4,625 shares during the period. Finally, Lord Abbett & CO. LLC bought a new position in International Business Machines in the third quarter worth $24,761,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of several analyst reports. Jefferies Financial Group boosted their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Bernstein Bank boosted their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. UBS Group upped their target price on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday. Finally, Stifel Nicolaus boosted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average target price of $215.81.

International Business Machines Stock Up 1.1 %

Shares of NYSE:IBM opened at $220.07 on Thursday. The company has a 50 day moving average price of $222.34 and a two-hundred day moving average price of $210.16. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The company has a market capitalization of $203.49 billion, a PE ratio of 32.03, a PEG ratio of 4.71 and a beta of 0.74. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $239.35.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the company posted $2.20 EPS. Analysts forecast that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.04%. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is owned by corporate insiders.

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.