Victory Capital Management Inc. increased its holdings in International Business Machines Corp. (NYSE:IBM) by 9.0% in the 4th quarter, HoldingsChannel reports. The fund owned 97,168 shares of the technology company’s stock after buying an additional 8,006 shares during the quarter. Victory Capital Management Inc.’s holdings in International Business Machines were worth $14,908,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. ETF Managers Group LLC bought a new stake in International Business Machines during the 2nd quarter valued at about $121,000. Price Wealth Management Inc. bought a new stake in International Business Machines during the 4th quarter valued at about $122,000. Cerebellum GP LLC bought a new stake in International Business Machines during the 4th quarter valued at about $126,000. Horan Capital Advisors LLC. bought a new stake in International Business Machines during the 3rd quarter valued at about $136,000. Finally, MPS Loria Financial Planners LLC bought a new stake in International Business Machines during the 2nd quarter valued at about $156,000. Institutional investors own 56.99% of the company’s stock.
Shares of International Business Machines stock opened at $160.26 on Monday. International Business Machines Corp. has a 1 year low of $139.13 and a 1 year high of $176.79. The stock has a market cap of $147,626.36, a P/E ratio of 11.59, a PEG ratio of 2.34 and a beta of 0.94. The company has a current ratio of 1.33, a quick ratio of 1.29 and a debt-to-equity ratio of 2.25.
The firm also recently declared a quarterly dividend, which was paid on Saturday, March 10th. Investors of record on Friday, February 9th were given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio is presently 98.20%.
A number of brokerages have recently issued reports on IBM. BMO Capital Markets reaffirmed a “hold” rating and set a $175.00 price target on shares of International Business Machines in a report on Friday, March 9th. Morgan Stanley downgraded shares of International Business Machines from an “equal weight” rating to an “underweight” rating and raised their price target for the company from $200.00 to $205.00 in a report on Tuesday, January 23rd. Cantor Fitzgerald reaffirmed a “hold” rating and set a $152.00 price target on shares of International Business Machines in a report on Friday, January 19th. Royal Bank of Canada reaffirmed a “buy” rating and set a $180.00 price target on shares of International Business Machines in a report on Friday, January 19th. Finally, Societe Generale set a $149.00 price target on shares of International Business Machines and gave the company a “sell” rating in a report on Friday, January 19th. Six investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $166.01.
In other International Business Machines news, Director Frederick H. Waddell purchased 610 shares of International Business Machines stock in a transaction that occurred on Wednesday, January 31st. The shares were bought at an average price of $163.38 per share, for a total transaction of $99,661.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Diane J. Gherson sold 5,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $156.00, for a total transaction of $780,000.00. Following the completion of the sale, the insider now owns 20,581 shares in the company, valued at approximately $3,210,636. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.
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International Business Machines Profile
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
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