OV Management LLC Acquires 850 Shares of International Business Machines Co. (NYSE:IBM)

OV Management LLC raised its stake in International Business Machines Co. (NYSE:IBM) by 8.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,182 shares of the technology company’s stock after buying an additional 850 shares during the quarter. International Business Machines comprises approximately 1.1% of OV Management LLC’s investment portfolio, making the stock its 19th biggest holding. OV Management LLC’s holdings in International Business Machines were worth $2,458,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of International Business Machines during the fourth quarter worth about $1,236,176,000. Raymond James Financial Inc. bought a new position in shares of International Business Machines during the 4th quarter worth approximately $592,746,000. Holocene Advisors LP acquired a new stake in shares of International Business Machines in the third quarter valued at approximately $573,306,000. Vanguard Group Inc. lifted its position in shares of International Business Machines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock worth $20,189,023,000 after purchasing an additional 1,539,888 shares in the last quarter. Finally, State Street Corp boosted its holdings in International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

IBM opened at $249.19 on Tuesday. The business’s fifty day moving average is $249.99 and its 200-day moving average is $231.88. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The firm has a market cap of $231.06 billion, a P/E ratio of 38.87, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating 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%. Sell-side analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced 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 yield of 2.68%. International Business Machines’s dividend payout ratio is presently 104.21%.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Sanford C. Bernstein boosted their price target on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Oppenheimer began coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target for the company. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. BMO Capital Markets raised their target price on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Finally, Bank of America upped their price target on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average target price of $231.13.

International Business Machines 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.