Range Financial Group LLC Has $1.61 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Range Financial Group LLC grew its stake in International Business Machines Co. (NYSE:IBM) by 145.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,307 shares of the technology company’s stock after purchasing an additional 4,336 shares during the period. Range Financial Group LLC’s holdings in International Business Machines were worth $1,606,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in IBM. Hazlett Burt & Watson Inc. boosted its holdings in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC acquired a new stake in shares of International Business Machines in the third quarter valued at approximately $29,000. Modus Advisors LLC bought a new position in International Business Machines in the 4th quarter worth approximately $40,000. Capital Performance Advisors LLP acquired a new stake in shares of International Business Machines in the 3rd quarter valued at $43,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new position in International Business Machines in the second quarter valued at about $36,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on IBM shares. Jefferies Financial Group upped their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research note on Wednesday, October 2nd. Morgan Stanley raised their price target on International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. Finally, BMO Capital Markets lifted their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $214.88.

Insider Buying and Selling at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

NYSE:IBM traded up $1.46 on Tuesday, hitting $224.13. The company had a trading volume of 3,299,035 shares, compared to its average volume of 3,146,843. The firm has a 50 day moving average of $220.73 and a two-hundred day moving average of $208.12. The stock has a market capitalization of $207.24 billion, a price-to-earnings ratio of 32.62, a PEG ratio of 5.18 and a beta of 0.74. International Business Machines Co. has a 52 week low of $157.88 and a 52 week high of $239.35. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter last year, the business posted $2.20 EPS. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, research analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

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.