Fortis Group Advisors LLC Buys 4,024 Shares of International Business Machines Co. (NYSE:IBM)

Fortis Group Advisors LLC increased its stake in shares of International Business Machines Co. (NYSE:IBM) by 46.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,673 shares of the technology company’s stock after acquiring an additional 4,024 shares during the period. Fortis Group Advisors LLC’s holdings in International Business Machines were worth $1,923,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Naples Money Management LLC bought a new position in shares of International Business Machines in the fourth quarter valued at $28,000. Creekmur Asset Management LLC acquired a new position in shares of International Business Machines during the 4th quarter worth about $29,000. Stone House Investment Management LLC raised its holdings in shares of International Business Machines by 971.4% in the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 204 shares during the period. Financial Gravity Asset Management Inc. lifted its stake in International Business Machines by 67.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 91 shares during the last quarter. Finally, Cordant Inc. increased its position in International Business Machines by 753.3% during the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock worth $42,000 after buying an additional 226 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IBM has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Sanford C. Bernstein upped their price target on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. BMO Capital Markets cut their price objective on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of International Business Machines in a research report on Wednesday, May 22nd. Finally, Wedbush boosted their price target on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $181.29.

International Business Machines Trading Up 0.1 %

Shares of IBM stock traded up $0.09 during mid-day trading on Friday, reaching $169.21. 2,777,717 shares of the stock traded hands, compared to its average volume of 3,225,373. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a 1-year low of $129.18 and a 1-year high of $199.18. The stock’s fifty day simple moving average is $172.43 and its two-hundred day simple moving average is $175.70. The company has a market cap of $155.44 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 4.17 and a beta of 0.72.

International Business Machines (NYSE:IBM) last announced its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. During the same period last year, the company earned $1.36 EPS. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, research analysts anticipate that International Business Machines Co. will post 9.91 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a dividend yield of 3.95%. International Business Machines’s dividend payout ratio is 75.65%.

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.