AGF Management Ltd. Acquires 315 Shares of International Business Machines Co. (NYSE:IBM)

AGF Management Ltd. lifted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,561 shares of the technology company’s stock after acquiring an additional 315 shares during the period. AGF Management Ltd.’s holdings in International Business Machines were worth $3,860,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IBM. Pettinga Financial Advisors LLC purchased a new position in International Business Machines during the third quarter worth about $221,000. United Bank boosted its holdings in International Business Machines by 53.3% during the third quarter. United Bank now owns 5,628 shares of the technology company’s stock worth $1,244,000 after purchasing an additional 1,956 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in International Business Machines by 33.0% during the third quarter. Los Angeles Capital Management LLC now owns 15,326 shares of the technology company’s stock worth $3,388,000 after purchasing an additional 3,801 shares during the last quarter. Harbour Investments Inc. boosted its holdings in International Business Machines by 12.4% during the third quarter. Harbour Investments Inc. now owns 6,205 shares of the technology company’s stock worth $1,372,000 after purchasing an additional 686 shares during the last quarter. Finally, Aptus Capital Advisors LLC boosted its holdings in International Business Machines by 89.7% during the third quarter. Aptus Capital Advisors LLC now owns 15,006 shares of the technology company’s stock worth $3,318,000 after purchasing an additional 7,095 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wedbush initiated coverage on shares of International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating on the stock. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Bank of America boosted their target price on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $231.44.

Insider Buying and Selling

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is currently owned by insiders.

International Business Machines Stock Performance

International Business Machines stock opened at $249.72 on Thursday. The firm’s 50 day simple moving average is $243.21 and its 200 day simple moving average is $227.58. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $231.56 billion, a PE ratio of 38.96, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $266.45.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

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.