International Business Machines Co. (NYSE:IBM) Shares Acquired by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc raised its position in International Business Machines Co. (NYSE:IBM) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,580 shares of the technology company’s stock after buying an additional 52 shares during the period. Fragasso Financial Advisors Inc’s holdings in International Business Machines were worth $347,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Meeder Asset Management Inc. grew its stake in International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of International Business Machines in the second quarter worth $7,160,000. Philip James Wealth Mangement LLC acquired a new stake in International Business Machines in the third quarter valued at $5,117,000. Nordea Investment Management AB boosted its stake in International Business Machines by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock valued at $16,615,000 after acquiring an additional 4,625 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in International Business Machines during the 3rd quarter worth $24,761,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

IBM opened at $217.39 on Tuesday. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $239.35. The stock has a market cap of $201.01 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74. The business’s 50 day moving average is $222.14 and its 200-day moving average is $209.84. 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 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 firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the previous year, the business earned $2.20 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors 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 dividend on an annualized basis and a yield of 3.07%. International Business Machines’s dividend payout ratio is presently 97.23%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Jefferies Financial Group increased their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Bernstein Bank lifted their target price on 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. Stifel Nicolaus upped their price target on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley lifted their price objective on shares of International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. Two equities 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 MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $214.88.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is owned by corporate insiders.

International Business Machines 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.