Texas Bank & Trust Co Invests $1.61 Million in International Business Machines Co. (NYSE:IBM)

Texas Bank & Trust Co bought a new stake in shares of International Business Machines Co. (NYSE:IBM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,302 shares of the technology company’s stock, valued at approximately $1,605,000.

Several other hedge funds also recently added to or reduced their stakes in IBM. Compass Financial Services Inc purchased a new position in International Business Machines during the fourth quarter valued at approximately $26,000. Vision Financial Markets LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $31,000. Valued Wealth Advisors LLC increased its holdings in shares of International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after purchasing an additional 90 shares in the last quarter. Rialto Wealth Management LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at $35,000. Finally, Tacita Capital Inc boosted its holdings in International Business Machines by 174.3% during the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock worth $42,000 after buying an additional 122 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Up 0.0%

Shares of IBM stock opened at $266.70 on Friday. International Business Machines Co. has a fifty-two week low of $163.53 and a fifty-two week high of $267.98. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The stock’s fifty day moving average is $243.74 and its two-hundred day moving average is $236.48. The firm has a market capitalization of $247.87 billion, a P/E ratio of 41.61, a PEG ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.18. The firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the firm posted $1.68 earnings per share. Research analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued a dividend of $1.68 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.52%. International Business Machines’s payout ratio is currently 115.66%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IBM shares. BMO Capital Markets reaffirmed a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Oppenheimer started coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target for the company. Morgan Stanley lowered their price target on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Royal Bank of Canada raised their price objective on International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Bank of America upped their target price on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $249.06.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines 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 in the company, valued at approximately $11,387,221.07. This trade represents a 37.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

International Business Machines 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.