International Business Machines Co. (NYSE:IBM) is Argyle Capital Management LLC’s 7th Largest Position

Argyle Capital Management LLC increased its holdings in International Business Machines Co. (NYSE:IBM) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,740 shares of the technology company’s stock after acquiring an additional 183 shares during the quarter. International Business Machines makes up about 2.1% of Argyle Capital Management LLC’s investment portfolio, making the stock its 7th largest position. Argyle Capital Management LLC’s holdings in International Business Machines were worth $5,219,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Pettinga Financial Advisors LLC purchased a new position in shares of International Business Machines during the 3rd quarter valued at approximately $221,000. Valmark Advisers Inc. lifted its holdings in International Business Machines by 6.8% in the 3rd quarter. Valmark Advisers Inc. now owns 4,651 shares of the technology company’s stock valued at $1,028,000 after purchasing an additional 297 shares in the last quarter. Cornerstone Wealth Group LLC increased its stake in shares of International Business Machines by 2.2% in the 3rd quarter. Cornerstone Wealth Group LLC now owns 3,674 shares of the technology company’s stock worth $812,000 after acquiring an additional 80 shares during the last quarter. Goldstone Financial Group LLC acquired a new stake in shares of International Business Machines in the 3rd quarter worth $535,000. Finally, Catalyst Financial Partners LLC increased its stake in shares of International Business Machines by 5.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 4,548 shares of the technology company’s stock worth $1,005,000 after acquiring an additional 215 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IBM. Oppenheimer initiated coverage on International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. Bank of America boosted their target price on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Sanford C. Bernstein lifted their price target on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Price Performance

Shares of NYSE IBM opened at $253.24 on Friday. The stock has a market capitalization of $234.16 billion, a price-to-earnings ratio of 39.51, a PEG ratio of 5.81 and a beta of 0.76. The business has a 50-day moving average of $237.78 and a 200-day moving average of $223.69. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, sell-side analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.64%. International Business Machines’s payout ratio is presently 104.21%.

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.