Norden Group LLC Purchases 107 Shares of International Business Machines Co. (NYSE:IBM)

Norden Group LLC grew its position in International Business Machines Co. (NYSE:IBM) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,711 shares of the technology company’s stock after acquiring an additional 107 shares during the quarter. Norden Group LLC’s holdings in International Business Machines were worth $2,135,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of IBM. Holocene Advisors LP bought a new position in shares of International Business Machines during the 3rd quarter worth approximately $573,306,000. State Street Corp lifted its position in shares of International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after buying an additional 1,200,803 shares during the period. KBC Group NV lifted its position in shares of International Business Machines by 90.4% during the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after buying an additional 800,930 shares during the period. Strategic Financial Concepts LLC lifted its position in shares of International Business Machines by 23,311.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock worth $153,262,000 after buying an additional 694,204 shares during the period. Finally, Proficio Capital Partners LLC lifted its position in shares of International Business Machines by 39,801.6% during the 4th quarter. Proficio Capital Partners LLC now owns 590,543 shares of the technology company’s stock worth $129,819,000 after buying an additional 589,063 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 0.2 %

Shares of International Business Machines stock opened at $252.63 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $265.72. The business has a fifty day simple moving average of $238.37 and a 200 day simple moving average of $224.36. The stock has a market cap of $234.25 billion, a PE ratio of 39.41, a price-to-earnings-growth ratio of 5.81 and a beta of 0.76.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Research analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wedbush assumed coverage on International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating for the company. BMO Capital Markets lifted their price objective on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Morgan Stanley lifted their price objective on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price objective on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Sanford C. Bernstein lifted their target price on 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average target price of $231.44.

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.