Carnegie Investment Counsel Has $8.38 Million Stake in International Business Machines Co. (NYSE:IBM)

Carnegie Investment Counsel lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,126 shares of the technology company’s stock after purchasing an additional 1,680 shares during the quarter. Carnegie Investment Counsel’s holdings in International Business Machines were worth $8,381,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of IBM. Hazlett Burt & Watson Inc. raised its position in 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 last quarter. Hara Capital LLC purchased a new stake in International Business Machines in the 3rd quarter valued at $29,000. Avondale Wealth Management raised its position in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after buying an additional 56 shares during the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new stake in International Business Machines in the 2nd quarter valued at $36,000. Finally, Modus Advisors LLC purchased a new stake in shares of International Business Machines during the 4th quarter valued at $40,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $222.54 on Friday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The business’s 50 day simple moving average is $222.47 and its two-hundred day simple moving average is $210.23. The stock has a market capitalization of $205.77 billion, a P/E ratio of 32.39, a price-to-earnings-growth ratio of 4.71 and a beta of 0.74. International Business Machines Co. has a one year low of $162.62 and a one year high of $239.35.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.20 EPS. Analysts forecast that International Business Machines Co. will post 10.16 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders 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 dividend yield of 3.00%. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Transactions at International Business Machines

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group raised their target price on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Bernstein Bank increased their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. BMO Capital Markets lifted their price target on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Finally, Bank of America raised their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $215.81.

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.