Banque Transatlantique SA Buys New Stake in International Business Machines Co. (NYSE:IBM)

Banque Transatlantique SA acquired a new stake in shares of International Business Machines Co. (NYSE:IBM) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,323 shares of the technology company’s stock, valued at approximately $1,820,000.

Other hedge funds have also modified their holdings of the company. Treasurer of the State of North Carolina boosted its stake in International Business Machines by 0.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock valued at $108,942,000 after acquiring an additional 4,131 shares during the last quarter. Blue Zone Wealth Advisors LLC acquired a new position in International Business Machines during the fourth quarter worth approximately $242,000. Brady Martz Wealth Solutions LLC acquired a new stake in International Business Machines during the fourth quarter worth approximately $1,940,000. Tranquilli Financial Advisor LLC bought a new position in shares of International Business Machines during the fourth quarter worth approximately $373,000. Finally, Truist Financial Corp increased its position in shares of International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after purchasing an additional 49,591 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the 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 transaction, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the subject of several research analyst reports. Wedbush reissued an “outperform” rating and issued a $300.00 target price on shares of International Business Machines in a report on Thursday, April 24th. UBS Group reiterated a “sell” rating and set a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Finally, Jefferies Financial Group restated a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and an average price target of $248.50.

International Business Machines Stock Up 2.4 %

Shares of IBM opened at $245.49 on Friday. The business has a fifty day moving average of $243.19 and a 200 day moving average of $234.15. International Business Machines Co. has a 52-week low of $163.53 and a 52-week high of $266.45. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The company has a market cap of $228.16 billion, a PE ratio of 38.30, a P/E/G ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. International Business Machines’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.68 earnings per share. On average, sell-side analysts expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be issued a $1.68 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.74%. International Business Machines’s dividend payout ratio is presently 115.66%.

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.