Gallacher Capital Management LLC Makes New $528,000 Investment in International Business Machines Co. (NYSE:IBM)

Gallacher Capital Management LLC bought a new stake in International Business Machines Co. (NYSE:IBM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,227 shares of the technology company’s stock, valued at approximately $528,000.

Several other institutional investors have also made changes to their positions in IBM. Naples Money Management LLC acquired a new position in shares of International Business Machines in the fourth quarter worth $28,000. Briaud Financial Planning Inc purchased a new stake in shares of International Business Machines during the 3rd quarter worth about $31,000. Stone House Investment Management LLC lifted its holdings in shares of International Business Machines by 971.4% during the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after buying an additional 204 shares during the last quarter. Financial Gravity Asset Management Inc. grew its stake in shares of International Business Machines by 67.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after buying an additional 91 shares in the last quarter. Finally, Cordant Inc. increased its holdings in International Business Machines by 753.3% in the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock worth $42,000 after buying an additional 226 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IBM. JPMorgan Chase & Co. decreased their price objective on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and increased their price target for the company from $165.00 to $200.00 in a report on Friday, January 19th. Sanford C. Bernstein upped their price target on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. BNP Paribas assumed coverage on International Business Machines in a research report on Thursday. They set an “underperform” rating and a $145.00 target price on the stock. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $190.00 target price on shares of International Business Machines in a research report on Wednesday, April 17th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $181.29.

International Business Machines Trading Up 0.6 %

Shares of IBM stock traded up $1.02 during trading hours on Friday, reaching $165.71. The company had a trading volume of 3,400,405 shares, compared to its average volume of 4,768,629. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. International Business Machines Co. has a 1-year low of $120.55 and a 1-year high of $199.18. The company has a 50 day moving average of $185.75 and a 200 day moving average of $171.44. The firm has a market cap of $152.22 billion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 4.08 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.36 earnings per share. On average, equities research analysts anticipate that International Business Machines Co. will post 9.92 EPS for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be issued a $1.67 dividend. The ex-dividend date is Thursday, May 9th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 4.03%. International Business Machines’s dividend payout ratio (DPR) is 75.20%.

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.