International Business Machines Co. (NYSE:IBM) Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC raised its stake in International Business Machines Co. (NYSE:IBM) by 8.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 20,476 shares of the technology company’s stock after purchasing an additional 1,559 shares during the quarter. Fisher Asset Management LLC’s holdings in International Business Machines were worth $3,349,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Naples Money Management LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth about $28,000. Briaud Financial Planning Inc acquired a new position in International Business Machines in the third quarter valued at $31,000. Stone House Investment Management LLC boosted its stake in 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 worth $32,000 after buying an additional 204 shares during the last quarter. Financial Gravity Asset Management Inc. increased its stake in shares of International Business Machines by 67.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 91 shares during the last quarter. Finally, Cordant Inc. boosted its position in shares of International Business Machines by 753.3% in the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock worth $42,000 after acquiring an additional 226 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Down 0.1 %

NYSE:IBM opened at $168.37 on Wednesday. International Business Machines Co. has a one year low of $120.55 and a one year high of $199.18. The business’s 50-day simple moving average is $185.11 and its 200 day simple moving average is $171.88. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The stock has a market cap of $154.66 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.36 earnings per share. As a group, sell-side analysts predict that International Business Machines Co. will post 9.92 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a dividend of $1.67 per share. The ex-dividend date is Thursday, May 9th. This represents a $6.68 annualized dividend and a yield of 3.97%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is presently 75.20%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IBM. Morgan Stanley lowered their price objective on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. BNP Paribas initiated coverage on International Business Machines in a research note on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price target for the company. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. dropped their target price on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Finally, Evercore ISI raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $181.29.

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.