Eastern Bank Grows Position in International Business Machines Co. (NYSE:IBM)

Eastern Bank increased its position in International Business Machines Co. (NYSE:IBM) by 40.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,544 shares of the technology company’s stock after purchasing an additional 9,091 shares during the quarter. Eastern Bank’s holdings in International Business Machines were worth $6,934,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. lifted its stake in shares of International Business Machines by 1,054.5% in the 3rd 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 during the period. Hara Capital LLC purchased a new position in shares of International Business Machines in the 3rd quarter valued at approximately $29,000. Avondale Wealth Management raised its stake in International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after buying an additional 56 shares during the last quarter. Modus Advisors LLC purchased a new position in International Business Machines during the fourth quarter valued at $40,000. Finally, Capital Performance Advisors LLP purchased a new position in International Business Machines during the third quarter valued at $43,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE:IBM traded down $2.67 during mid-day trading on Monday, hitting $217.08. 1,959,874 shares of the company traded hands, compared to its average volume of 2,943,109. The stock’s fifty day moving average price is $221.92 and its 200-day moving average price is $209.52. International Business Machines Co. has a one year low of $162.62 and a one year high of $239.35. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a market cap of $200.72 billion, a price-to-earnings ratio of 31.60, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS 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 business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the previous year, the business earned $2.20 earnings per share. The business’s revenue was up 1.5% on a year-over-year basis. Research analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were given a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.08%. International Business Machines’s payout ratio is 97.23%.

Analyst Ratings Changes

A number of brokerages have issued reports on IBM. BMO Capital Markets lifted their price objective on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Sanford C. Bernstein lifted their price objective on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Jefferies Financial Group lifted their price objective 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. DZ Bank cut 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. Finally, StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $214.88.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.07% of the company’s stock.

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.