McGowan Group Asset Management Inc. Raises Holdings in International Business Machines Co. (NYSE:IBM)

McGowan Group Asset Management Inc. increased its stake in International Business Machines Co. (NYSE:IBM) by 18.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,426 shares of the technology company’s stock after buying an additional 382 shares during the period. McGowan Group Asset Management Inc.’s holdings in International Business Machines were worth $533,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Measured Risk Portfolios Inc. purchased a new stake in International Business Machines in the 4th quarter worth approximately $43,000. Minot DeBlois Advisors LLC bought a new position in shares of International Business Machines during the fourth quarter valued at approximately $137,000. Napa Wealth Management bought a new position in shares of International Business Machines during the 4th quarter worth approximately $1,123,000. NDVR Inc. grew its holdings in shares of International Business Machines by 5.5% during the fourth quarter. NDVR Inc. now owns 1,567 shares of the technology company’s stock valued at $344,000 after buying an additional 81 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in International Business Machines by 6.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 607,840 shares of the technology company’s stock worth $133,626,000 after acquiring an additional 36,759 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. BMO Capital Markets reissued a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Oppenheimer initiated coverage on International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. KGI Securities set a $242.00 target price on International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. Finally, StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus target price of $248.50.

International Business Machines Price Performance

International Business Machines stock opened at $253.74 on Tuesday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a 1 year low of $163.53 and a 1 year high of $266.45. The stock has a market capitalization of $235.82 billion, a P/E ratio of 39.58, a P/E/G ratio of 5.81 and a beta of 0.64. The company’s fifty day moving average price is $243.06 and its 200 day moving average price is $235.19.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The company had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. During the same quarter in the previous year, the business posted $1.68 EPS. The firm’s revenue was up .5% on a year-over-year basis. As a group, equities research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.65%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is presently 115.66%.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction that occurred 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 directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

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.