Zhang Financial LLC Purchases 686 Shares of International Business Machines Co. (NYSE:IBM)

Zhang Financial LLC lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,077 shares of the technology company’s stock after buying an additional 686 shares during the period. Zhang Financial LLC’s holdings in International Business Machines were worth $3,974,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. State Street Corp grew its stake in shares of International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after buying an additional 1,200,803 shares during the last quarter. Legal & General Group Plc lifted its position in International Business Machines by 4.1% in the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after purchasing an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of International Business Machines by 6.4% during the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after purchasing an additional 444,698 shares during the period. FMR LLC grew its holdings in shares of International Business Machines by 6.0% in the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after purchasing an additional 294,276 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of International Business Machines by 0.5% in the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock worth $602,819,000 after purchasing an additional 12,400 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the subject of several analyst reports. Jefferies Financial Group increased their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Bernstein Bank raised their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group lifted their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus upped their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $216.87.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.07% of the company’s stock.

International Business Machines Stock Performance

IBM stock opened at $224.73 on Monday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $239.35. The stock’s 50 day simple moving average is $222.87 and its 200 day simple moving average is $210.89. The stock has a market capitalization of $207.80 billion, a PE ratio of 32.71, a price-to-earnings-growth ratio of 4.71 and a beta of 0.74. 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 announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion during 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 company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.20 EPS. As a group, research analysts forecast that International Business Machines Co. will post 10.16 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company 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. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.97%. International Business Machines’s dividend payout ratio is currently 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.