HTLF Bank Makes New Investment in International Business Machines Co. (NYSE:IBM)

HTLF Bank acquired a new position in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, Holdings Channel.com reports. The firm acquired 2,897 shares of the technology company’s stock, valued at approximately $474,000.

A number of other hedge funds also recently modified their holdings of IBM. Desjardins Global Asset Management Inc. raised its holdings in International Business Machines by 1.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock worth $644,000 after buying an additional 54 shares during the period. Avion Wealth boosted its position in shares of International Business Machines by 6.2% during the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock worth $158,000 after buying an additional 56 shares during the period. Financial Security Advisor Inc. grew its holdings in shares of International Business Machines by 2.7% during the fourth quarter. Financial Security Advisor Inc. now owns 2,346 shares of the technology company’s stock worth $384,000 after buying an additional 61 shares in the last quarter. Cornerstone Wealth Group LLC raised its position in International Business Machines by 3.6% in the 4th quarter. Cornerstone Wealth Group LLC now owns 1,734 shares of the technology company’s stock valued at $284,000 after buying an additional 61 shares during the last quarter. Finally, Webster Bank N. A. raised its holdings in shares of International Business Machines by 0.9% in the fourth quarter. Webster Bank N. A. now owns 7,131 shares of the technology company’s stock valued at $1,166,000 after purchasing an additional 62 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $181.63 on Friday. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93. The firm has a market cap of $166.51 billion, a price-to-earnings ratio of 22.34, a P/E/G ratio of 3.57 and a beta of 0.70. The stock’s fifty day moving average price is $188.46 and its two-hundred day moving average price is $168.91. International Business Machines Co. has a one year low of $120.55 and a one year high of $199.18.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, beating the consensus estimate of $3.78 by $0.09. The business had revenue of $17.38 billion for the quarter, compared to the consensus estimate of $17.29 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. International Business Machines’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.60 earnings per share. On average, equities analysts forecast that International Business Machines Co. will post 10.04 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were issued a $1.66 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.64 annualized dividend and a yield of 3.66%. International Business Machines’s dividend payout ratio is presently 81.67%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Societe Generale restated a “sell” rating and set a $143.00 target price on shares of International Business Machines in a report on Friday, January 5th. Royal Bank of Canada upped their target price on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. Stifel Nicolaus reissued a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a research note on Wednesday. Finally, Jefferies Financial Group assumed coverage on shares of International Business Machines in a research report on Friday, January 5th. They issued a “hold” rating and a $180.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus target price of $178.67.

About International Business Machines

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.