Leigh Baldwin & CO. LLC Acquires Shares of 484,638 International Business Machines Co. (NYSE:IBM)

Leigh Baldwin & CO. LLC bought a new position in shares of International Business Machines Co. (NYSE:IBM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 484,638 shares of the technology company’s stock, valued at approximately $106,538,000.

Several other hedge funds have also recently modified their holdings of IBM. JBR Co Financial Management Inc lifted its stake in shares of International Business Machines by 0.6% in the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock valued at $1,405,000 after buying an additional 40 shares during the period. Wealth Dimensions Group Ltd. boosted its holdings in International Business Machines by 1.0% during the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock valued at $873,000 after purchasing an additional 40 shares in the last quarter. Schechter Investment Advisors LLC raised its holdings in shares of International Business Machines by 0.7% in the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock worth $1,396,000 after buying an additional 43 shares in the last quarter. Titleist Asset Management LLC lifted its position in shares of International Business Machines by 3.1% during the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock worth $315,000 after buying an additional 43 shares during the period. Finally, Callan Capital LLC raised its stake in International Business Machines by 2.4% during the fourth quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock worth $411,000 after acquiring an additional 44 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction 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 trade represents a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is owned by insiders.

International Business Machines Stock Down 1.9%

Shares of NYSE:IBM opened at $249.32 on Monday. The firm has a market cap of $231.72 billion, a P/E ratio of 38.90, a PEG ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a 52-week low of $163.53 and a 52-week high of $266.45. The business’s 50 day simple moving average is $243.01 and its two-hundred day simple moving average is $234.91. 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 (NYSE:IBM) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. During the same quarter last year, the firm earned $1.68 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. 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 firm also recently announced 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 represents a $6.72 dividend on an annualized basis and a dividend yield of 2.70%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is presently 115.66%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on IBM shares. BMO Capital Markets reaffirmed a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Morgan Stanley decreased their price target on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Finally, Oppenheimer started coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $248.50.

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.