Nemes Rush Group LLC Grows Stock Position in International Business Machines Co. (NYSE:IBM)

Nemes Rush Group LLC grew its stake in International Business Machines Co. (NYSE:IBM) by 2.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,913 shares of the technology company’s stock after purchasing an additional 77 shares during the period. Nemes Rush Group LLC’s holdings in International Business Machines were worth $640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. StoneX Group Inc. acquired a new position in International Business Machines during the 4th quarter worth about $2,544,000. HighPoint Advisor Group LLC grew its position in shares of International Business Machines by 0.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 51,447 shares of the technology company’s stock valued at $11,310,000 after buying an additional 433 shares during the last quarter. B. Metzler seel. Sohn & Co. AG lifted its stake in International Business Machines by 1.3% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 62,008 shares of the technology company’s stock valued at $13,631,000 after buying an additional 824 shares during the last quarter. Seven Mile Advisory raised its stake in shares of International Business Machines by 70.7% during the fourth quarter. Seven Mile Advisory now owns 1,567 shares of the technology company’s stock worth $344,000 after purchasing an additional 649 shares during the last quarter. Finally, Summit Financial LLC raised its position in International Business Machines by 67.1% in the fourth quarter. Summit Financial LLC now owns 23,394 shares of the technology company’s stock worth $5,143,000 after acquiring an additional 9,393 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Price Performance

NYSE IBM opened at $249.19 on Tuesday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45. The company has a market capitalization of $231.06 billion, a PE ratio of 38.87, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The firm’s 50 day moving average is $249.99 and its 200-day moving average is $231.88.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating 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%. Equities research analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Analysts Set New Price Targets

IBM has been the subject of a number of analyst reports. Sanford C. Bernstein boosted their price target on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Morgan Stanley raised their target price on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Finally, 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 note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and an average price target of $231.13.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm’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 sale, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by insiders.

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.