Graney & King LLC Makes New Investment in International Business Machines Co. (NYSE:IBM)

Graney & King LLC purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 243 shares of the technology company’s stock, valued at approximately $53,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of IBM. Raymond James Financial Inc. purchased a new position in International Business Machines in the fourth quarter worth about $592,746,000. Holocene Advisors LP purchased a new position in shares of International Business Machines in the third quarter worth approximately $573,306,000. Vanguard Group Inc. grew its position in International Business Machines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after buying an additional 1,539,888 shares during the period. State Street Corp increased its holdings in International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after buying an additional 1,200,803 shares during the last quarter. Finally, KBC Group NV raised its position in International Business Machines by 90.4% in the fourth quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after acquiring an additional 800,930 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $250.01 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $266.45. The stock has a 50 day moving average of $248.04 and a 200 day moving average of $230.76. The firm has a market cap of $231.83 billion, a PE ratio of 39.00, a PEG ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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%. On average, research analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.67%. International Business Machines’s dividend payout ratio is currently 104.21%.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of recent research reports. Bank of America boosted their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. Finally, BMO Capital Markets raised 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 note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average target price of $231.44.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by insiders.

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.