International Business Machines Co. (NYSE:IBM) Shares Purchased by Cullen Investment Group LTD.

Cullen Investment Group LTD. raised its holdings in International Business Machines Co. (NYSE:IBM) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,985 shares of the technology company’s stock after purchasing an additional 123 shares during the period. Cullen Investment Group LTD.’s holdings in International Business Machines were worth $876,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by corporate insiders.

International Business Machines Trading Down 1.1 %

International Business Machines stock opened at $217.39 on Tuesday. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $239.35. The firm’s 50 day moving average price is $222.14 and its two-hundred day moving average price is $209.84. The firm has a market cap of $201.01 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period last year, the firm posted $2.20 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, research analysts predict that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were paid a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.07%. International Business Machines’s payout ratio is 97.23%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on IBM shares. The Goldman Sachs Group boosted their price target 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. Sanford C. Bernstein boosted their target price on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Morgan Stanley raised their price target on shares of International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. Bank of America boosted their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Bernstein Bank raised their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $214.88.

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.