Choate Investment Advisors Has $2.45 Million Position in International Business Machines Co. (NYSE:IBM)

Choate Investment Advisors grew its stake in International Business Machines Co. (NYSE:IBM) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,153 shares of the technology company’s stock after purchasing an additional 854 shares during the period. Choate Investment Advisors’ holdings in International Business Machines were worth $2,452,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Compass Financial Services Inc acquired a new stake in shares of International Business Machines in the 4th quarter valued at approximately $26,000. Vision Financial Markets LLC acquired a new stake in International Business Machines during the 4th quarter worth approximately $31,000. Avondale Wealth Management boosted its position in International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares during the period. Valued Wealth Advisors LLC boosted its position in International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after buying an additional 90 shares during the period. Finally, Rialto Wealth Management LLC acquired a new stake in International Business Machines during the 4th quarter worth approximately $35,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by company insiders.

International Business Machines Stock Performance

NYSE:IBM opened at $248.15 on Friday. The company has a fifty day moving average of $244.23 and a 200-day moving average of $228.26. The firm has a market capitalization of $230.10 billion, a P/E ratio of 38.71, a P/E/G ratio of 5.81 and a beta of 0.74. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $266.45.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS 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%. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.69%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Jefferies Financial Group lifted their target price on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. BMO Capital Markets lifted their target price 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target 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, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target of $231.44.

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.