International Business Machines Co. (NYSE:IBM) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its stake in International Business Machines Co. (NYSE:IBM) by 14.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 533,928 shares of the technology company’s stock after purchasing an additional 68,760 shares during the quarter. Pictet Asset Management Holding SA’s holdings in International Business Machines were worth $117,373,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Broadway Wealth Solutions Inc. purchased a new stake in shares of International Business Machines during the fourth quarter valued at approximately $427,000. New Age Alpha Advisors LLC purchased a new stake in International Business Machines during the 4th quarter worth $7,827,000. Providence Capital Advisors LLC increased its stake in International Business Machines by 2.1% during the 4th quarter. Providence Capital Advisors LLC now owns 17,646 shares of the technology company’s stock worth $3,879,000 after buying an additional 358 shares during the period. Norges Bank acquired a new position in International Business Machines in the 4th quarter worth $1,236,176,000. Finally, Caisse Des Depots ET Consignations acquired a new stake in shares of International Business Machines during the fourth quarter valued at about $7,493,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. UBS Group boosted their price target on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Sanford C. Bernstein raised their price target on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Morgan Stanley lifted their price target on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, BMO Capital Markets raised their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $231.44.

Insider Buying and Selling at International Business Machines

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

International Business Machines Stock Down 1.0 %

Shares of International Business Machines stock opened at $243.83 on Friday. The stock has a market capitalization of $226.10 billion, a price-to-earnings ratio of 38.04, a PEG ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $266.45. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The business’s 50 day simple moving average is $249.51 and its 200-day simple moving average is $231.29.

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

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.74%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

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.