Redmond Asset Management LLC Has $2.40 Million Holdings in International Business Machines Co. (NYSE:IBM)

Redmond Asset Management LLC boosted its holdings in International Business Machines Co. (NYSE:IBM) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,933 shares of the technology company’s stock after buying an additional 229 shares during the period. Redmond Asset Management LLC’s holdings in International Business Machines were worth $2,404,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of IBM. Meeder Asset Management Inc. lifted its stake in International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after buying an additional 166 shares during the period. Blue Zone Wealth Advisors LLC acquired a new stake in shares of International Business Machines in the 4th quarter valued at approximately $242,000. Brady Martz Wealth Solutions LLC acquired a new stake in International Business Machines in the fourth quarter worth $1,940,000. Tranquilli Financial Advisor LLC acquired a new stake in International Business Machines in the fourth quarter worth $373,000. Finally, Philip James Wealth Mangement LLC acquired a new stake in International Business Machines in the third quarter worth $5,117,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Down 1.1 %

IBM opened at $261.77 on Friday. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. The firm has a market capitalization of $242.05 billion, a P/E ratio of 40.84, a PEG ratio of 5.80 and a beta of 0.76. The company’s 50-day moving average is $235.27 and its 200 day moving average is $221.81. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping 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%. Research analysts expect that International Business Machines Co. will post 10.77 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s payout ratio is presently 104.21%.

Wall Street Analysts Forecast Growth

IBM has been the topic of several research analyst reports. Sanford C. Bernstein raised their price objective on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Bank of America raised their price target on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. BMO Capital Markets raised their price target on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. UBS Group raised their target price on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $231.44.

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.