International Business Machines Co. (NYSE:IBM) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its position in International Business Machines Co. (NYSE:IBM) by 2.1% in the fourth quarter, HoldingsChannel reports. The fund owned 20,909,646 shares of the technology company’s stock after acquiring an additional 427,499 shares during the quarter. Geode Capital Management LLC’s holdings in International Business Machines were worth $4,589,145,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of IBM. Norges Bank acquired a new stake in International Business Machines in the fourth quarter valued at approximately $1,236,176,000. Raymond James Financial Inc. purchased a new position in shares of International Business Machines during the 4th quarter valued at approximately $592,746,000. Holocene Advisors LP acquired a new stake in International Business Machines in the 3rd quarter valued at $573,306,000. Vanguard Group Inc. raised 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 worth $20,189,023,000 after acquiring an additional 1,539,888 shares during the period. Finally, State Street Corp lifted 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 purchasing an additional 1,200,803 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IBM. UBS Group upped their price target on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Jefferies Financial Group lowered their price target on International Business Machines from $270.00 to $265.00 and set a “hold” rating on the stock in a research note on Monday. Bank of America boosted their price target on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. Finally, Morgan Stanley increased their target price on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target of $231.13.

Insider Activity at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by company insiders.

International Business Machines Stock Up 2.1 %

Shares of IBM opened at $249.19 on Tuesday. 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 firm has a market cap of $231.06 billion, a P/E ratio of 38.87, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company’s 50-day moving average price is $249.99 and its 200 day moving average price is $231.88. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping 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, sell-side 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. Investors of record on Monday, February 10th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.68%. The ex-dividend date was Monday, February 10th. International Business Machines’s payout ratio 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.