Terra Nova Asset Management LLC Has $2.38 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Terra Nova Asset Management LLC lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,844 shares of the technology company’s stock after purchasing an additional 212 shares during the period. International Business Machines accounts for 1.8% of Terra Nova Asset Management LLC’s portfolio, making the stock its 23rd largest holding. Terra Nova Asset Management LLC’s holdings in International Business Machines were worth $2,384,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Hazlett Burt & Watson Inc. boosted its holdings in shares of International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares during the period. Hara Capital LLC bought a new stake in shares of International Business Machines during the 3rd quarter worth about $29,000. Avondale Wealth Management boosted its holdings in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines during the 2nd quarter worth about $36,000. Finally, Modus Advisors LLC bought a new stake in shares of International Business Machines during the 4th quarter worth about $40,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

IBM stock opened at $224.73 on Monday. The company has a 50 day simple moving average of $222.87 and a 200 day simple moving average of $210.89. The stock has a market cap of $207.80 billion, a price-to-earnings ratio of 32.71, a P/E/G ratio of 4.71 and a beta of 0.74. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $239.35. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned $2.20 EPS. Research analysts anticipate that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio is 97.23%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. BMO Capital Markets lifted their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Jefferies Financial Group boosted their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. The Goldman Sachs Group boosted their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Finally, Stifel Nicolaus boosted their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $216.87.

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.