Brooklyn FI LLC Purchases Shares of 2,000 International Business Machines Co. (NYSE:IBM)

Brooklyn FI LLC purchased a new stake in International Business Machines Co. (NYSE:IBM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,000 shares of the technology company’s stock, valued at approximately $455,000.

A number of other hedge funds have also recently bought and sold shares of the stock. State Street Corp grew its stake in International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of International Business Machines by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company’s stock worth $1,465,223,000 after acquiring an additional 126,547 shares during the period. FMR LLC boosted its stake in shares of International Business Machines by 6.0% during the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after acquiring an additional 294,276 shares during the period. Raymond James Financial Inc. bought a new position in shares of International Business Machines during the 4th quarter worth approximately $592,746,000. Finally, Holocene Advisors LP bought a new position in shares of International Business Machines during the 3rd quarter worth approximately $573,306,000. 58.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was 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 $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by corporate insiders.

International Business Machines Stock Performance

NYSE:IBM opened at $252.54 on Thursday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $266.45. The company has a market cap of $234.17 billion, a price-to-earnings ratio of 39.40, a PEG ratio of 5.81 and a beta of 0.74. The stock has a fifty day moving average price of $245.88 and a 200-day moving average price of $229.33.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping the consensus estimate 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 anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.65%. International Business Machines’s dividend payout ratio is currently 104.21%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IBM. Jefferies Financial Group lifted their target price on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Morgan Stanley lifted their target price on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday. Wedbush began coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. Finally, BMO Capital Markets lifted their price target on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $231.44.

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.