Transcendent Capital Group LLC Takes $72,000 Position in International Business Machines Co. (NYSE:IBM)

Transcendent Capital Group LLC purchased a new position in International Business Machines Co. (NYSE:IBM) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 439 shares of the technology company’s stock, valued at approximately $72,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vontobel Holding Ltd. lifted its stake in International Business Machines by 20.3% in the fourth quarter. Vontobel Holding Ltd. now owns 477,193 shares of the technology company’s stock worth $78,045,000 after purchasing an additional 80,474 shares during the last quarter. Natixis Advisors L.P. grew its position in International Business Machines by 18.1% in the 3rd quarter. Natixis Advisors L.P. now owns 372,307 shares of the technology company’s stock valued at $52,235,000 after acquiring an additional 57,170 shares during the last quarter. Tsfg LLC increased its stake in International Business Machines by 40.5% in the fourth quarter. Tsfg LLC now owns 378 shares of the technology company’s stock worth $62,000 after purchasing an additional 109 shares during the period. Auxano Advisors LLC lifted its position in shares of International Business Machines by 4.8% during the fourth quarter. Auxano Advisors LLC now owns 3,398 shares of the technology company’s stock worth $556,000 after purchasing an additional 156 shares during the last quarter. Finally, Waverly Advisors LLC boosted its stake in shares of International Business Machines by 48.1% during the third quarter. Waverly Advisors LLC now owns 19,692 shares of the technology company’s stock valued at $2,763,000 after purchasing an additional 6,397 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IBM. BNP Paribas assumed coverage on shares of International Business Machines in a report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price objective for the company. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. BMO Capital Markets reduced their price objective on International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a report on Thursday, May 16th. Finally, JPMorgan Chase & Co. cut their price target on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average price target of $181.29.

International Business Machines Stock Performance

IBM stock traded up $0.09 during trading on Friday, reaching $169.21. The company had a trading volume of 2,777,717 shares, compared to its average volume of 3,225,373. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. International Business Machines Co. has a twelve month low of $129.18 and a twelve month high of $199.18. The company has a market cap of $155.44 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 4.17 and a beta of 0.72. The firm has a 50-day simple moving average of $172.43 and a 200-day simple moving average of $175.56.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same period in the previous year, the firm posted $1.36 earnings per share. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, sell-side analysts expect that International Business Machines Co. will post 9.91 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.95%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date was Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

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.