International Business Machines Co. (NYSE:IBM) Shares Bought by Convergence Financial LLC

Convergence Financial LLC lifted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 78.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,573 shares of the technology company’s stock after buying an additional 1,128 shares during the period. Convergence Financial LLC’s holdings in International Business Machines were worth $566,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pettinga Financial Advisors LLC purchased a new position in International Business Machines in the 3rd quarter valued at approximately $221,000. Pallas Capital Advisors LLC raised its holdings in International Business Machines by 2.3% in the third quarter. Pallas Capital Advisors LLC now owns 4,610 shares of the technology company’s stock valued at $1,007,000 after buying an additional 104 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of International Business Machines by 132.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,301 shares of the technology company’s stock valued at $730,000 after acquiring an additional 1,881 shares in the last quarter. Gateway Wealth Partners LLC boosted its position in shares of International Business Machines by 4.4% in the third quarter. Gateway Wealth Partners LLC now owns 1,339 shares of the technology company’s stock worth $296,000 after buying an additional 57 shares during the period. Finally, Valmark Advisers Inc. boosted its holdings in International Business Machines by 6.8% in the 3rd quarter. Valmark Advisers Inc. now owns 4,651 shares of the technology company’s stock worth $1,028,000 after acquiring an additional 297 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Sanford C. Bernstein raised their price objective on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. BMO Capital Markets raised their price target on shares of 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. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $231.44.

International Business Machines Stock Down 0.8 %

Shares of IBM opened at $255.62 on Thursday. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $265.72. The stock has a fifty day moving average of $237.20 and a 200-day moving average of $223.48. 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 stock has a market capitalization of $236.35 billion, a price-to-earnings ratio of 39.88, a PEG ratio of 5.81 and a beta of 0.76.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (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, sell-side 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 announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 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.