Choate Investment Advisors Increases Position in International Business Machines Corporation $IBM

Choate Investment Advisors raised its position in International Business Machines Corporation (NYSE:IBM) by 43.1% during the fourth quarter, Holdings Channel reports. The firm owned 19,566 shares of the technology company’s stock after buying an additional 5,890 shares during the quarter. Choate Investment Advisors’ holdings in International Business Machines were worth $5,796,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Family CFO Inc purchased a new stake in International Business Machines in the fourth quarter valued at approximately $25,000. Joseph Group Capital Management purchased a new stake in International Business Machines in the fourth quarter valued at approximately $28,000. SWAN Capital LLC purchased a new stake in International Business Machines in the third quarter valued at approximately $28,000. DecisionPoint Financial LLC raised its position in International Business Machines by 1,666.7% in the fourth quarter. DecisionPoint Financial LLC now owns 106 shares of the technology company’s stock valued at $31,000 after purchasing an additional 100 shares during the period. Finally, LFA Lugano Financial Advisors SA purchased a new stake in International Business Machines in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.0%

International Business Machines stock opened at $253.88 on Monday. International Business Machines Corporation has a twelve month low of $212.34 and a twelve month high of $324.90. The stock’s fifty day simple moving average is $238.70 and its 200-day simple moving average is $272.21. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The firm has a market capitalization of $238.62 billion, a P/E ratio of 22.45, a P/E/G ratio of 2.63 and a beta of 0.58.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The business had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. During the same quarter in the prior year, the company earned $1.60 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. As a group, equities analysts expect that International Business Machines Corporation will post 12.4 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be paid a dividend of $1.69 per share. The ex-dividend date is Friday, May 8th. This is an increase from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.7%. International Business Machines’s payout ratio is presently 59.77%.

International Business Machines News Summary

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: IBM and the U.S. Commerce Department announced a plan to launch America’s first purpose-built quantum foundry, with IBM set to receive the largest share of federal support and contribute matching capital. IBM and U.S. Department of Commerce Announce America’s First Purpose-Built Quantum Foundry, Supported by Proposed $1 Billion CHIPS Award
• Positive Sentiment: Analysts and media reports say the quantum funding package is a major new catalyst for IBM, helping drive strong share-price momentum and lifting sentiment around the stock’s long-term growth prospects. IBM shares extend rally as Wedbush calls US quantum investment a “new catalyst”
• Positive Sentiment: IBM’s push into quantum computing and related hot tech segments is being viewed as evidence the company is expanding beyond legacy businesses into higher-growth opportunities. Why IBM Stock Was Rocking it This Week
• Neutral Sentiment: Some coverage highlights that IBM’s valuation, debt load, and execution risk will matter as the company commits capital to the quantum foundry project. IBM’s US$1b Anderon Quantum Foundry Puts Valuation And Debt In Focus

Analysts Set New Price Targets

A number of analysts have issued reports on IBM shares. Weiss Ratings lowered International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Jefferies Financial Group cut their price objective on International Business Machines from $370.00 to $320.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Argus set a $360.00 price objective on International Business Machines in a research report on Friday, January 30th. Wedbush reaffirmed an “outperform” rating on shares of International Business Machines in a research report on Thursday. Finally, JPMorgan Chase & Co. cut their price objective on International Business Machines from $317.00 to $283.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, International Business Machines currently has an average rating of “Moderate Buy” and a consensus target price of $294.41.

Insider Activity at International Business Machines

In other news, Director Michael Miebach bought 434 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average price of $233.33 per share, for a total transaction of $101,265.22. Following the completion of the purchase, the director owned 434 shares in the company, valued at approximately $101,265.22. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.27% of the company’s stock.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.