Cibc World Markets Corp Raises Position in International Business Machines Co. (NYSE:IBM)

Cibc World Markets Corp raised its position in shares of International Business Machines Co. (NYSE:IBM) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 287,158 shares of the technology company’s stock after acquiring an additional 17,648 shares during the quarter. Cibc World Markets Corp’s holdings in International Business Machines were worth $63,126,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Gray Wealth Management Inc. lifted its position in International Business Machines by 17.3% during the fourth quarter. Gray Wealth Management Inc. now owns 2,119 shares of the technology company’s stock valued at $466,000 after buying an additional 313 shares during the period. IMG Wealth Management Inc. purchased a new position in International Business Machines during the 4th quarter valued at about $218,000. SlateStone Wealth LLC boosted its stake in International Business Machines by 1.9% during the fourth quarter. SlateStone Wealth LLC now owns 11,001 shares of the technology company’s stock worth $2,418,000 after acquiring an additional 202 shares in the last quarter. GWN Securities Inc. bought a new stake in International Business Machines during the fourth quarter worth about $1,677,000. Finally, Altus Wealth Group LLC increased its stake in shares of International Business Machines by 14.6% during the fourth quarter. Altus Wealth Group LLC now owns 1,443 shares of the technology company’s stock valued at $317,000 after purchasing an additional 184 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of the company’s 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 completion of the transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.07% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on IBM shares. Morgan Stanley boosted their price target on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. UBS Group boosted their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Jefferies Financial Group raised their price target on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. increased their price objective on shares of 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 shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Stock Up 1.0 %

IBM opened at $248.15 on Monday. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $266.45. The firm’s 50 day simple moving average is $244.23 and its two-hundred day simple moving average is $228.47. 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 company has a market capitalization of $230.10 billion, a PE ratio of 38.71, a PEG ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its earnings results 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%. As a group, equities analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.69%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

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.