Contravisory Investment Management Inc. Makes New Investment in International Business Machines Co. (NYSE:IBM)

Contravisory Investment Management Inc. bought a new position in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,248 shares of the technology company’s stock, valued at approximately $494,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. boosted its holdings in International Business Machines by 1,054.5% in 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 during the period. Hara Capital LLC purchased a new position in shares of International Business Machines in the 3rd quarter valued at about $29,000. Avondale Wealth Management grew its position in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines in the second quarter valued at approximately $36,000. Finally, Modus Advisors LLC purchased a new position in International Business Machines in the fourth quarter worth approximately $40,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Morgan Stanley upped their price objective on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Stifel Nicolaus boosted their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. UBS Group raised their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday. Finally, DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $215.81.

International Business Machines Stock Up 1.1 %

IBM opened at $220.07 on Thursday. The company has a market cap of $203.49 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 4.71 and a beta of 0.74. International Business Machines Co. has a one year low of $162.62 and a one year high of $239.35. The business’s fifty day moving average is $222.34 and its two-hundred day moving average is $210.16. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.20 EPS. Analysts anticipate that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction 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. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.07% of the stock is owned by corporate insiders.

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.