3,003 Shares in International Business Machines Co. (NYSE:IBM) Purchased by Cullen Investment Group LTD.

Cullen Investment Group LTD. purchased a new position in International Business Machines Co. (NYSE:IBM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,003 shares of the technology company’s stock, valued at approximately $491,000.

Several other hedge funds have also recently added to or reduced their stakes in IBM. Cantor Fitzgerald Investment Advisor L.P raised its position in International Business Machines by 97.6% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 257,335 shares of the technology company’s stock worth $33,459,000 after purchasing an additional 127,093 shares in the last quarter. Roundview Capital LLC bought a new stake in International Business Machines during the first quarter worth about $203,000. Sei Investments Co. grew its stake in International Business Machines by 35.7% during the first quarter. Sei Investments Co. now owns 177,599 shares of the technology company’s stock worth $23,157,000 after buying an additional 46,756 shares during the last quarter. Candriam Luxembourg S.C.A. grew its stake in International Business Machines by 1.9% during the first quarter. Candriam Luxembourg S.C.A. now owns 95,662 shares of the technology company’s stock worth $12,438,000 after buying an additional 1,821 shares during the last quarter. Finally, Baird Financial Group Inc. grew its stake in International Business Machines by 1.5% during the first quarter. Baird Financial Group Inc. now owns 382,232 shares of the technology company’s stock worth $49,698,000 after buying an additional 5,506 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM stock opened at $181.25 on Tuesday. International Business Machines Co. has a 52-week low of $120.55 and a 52-week high of $199.18. The stock has a market cap of $166.16 billion, a PE ratio of 22.29, a PEG ratio of 3.57 and a beta of 0.70. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.93 and a current ratio of 0.96. The firm’s 50 day moving average price is $188.62 and its two-hundred day moving average price is $168.13.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.78 by $0.09. The firm had revenue of $17.38 billion for the quarter, compared to analysts’ expectations of $17.29 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the firm earned $3.60 earnings per share. As a group, analysts forecast that International Business Machines Co. will post 10.07 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were issued a $1.66 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.64 annualized dividend and a yield of 3.66%. International Business Machines’s dividend payout ratio (DPR) is presently 81.67%.

Analyst Ratings Changes

IBM has been the topic of several research analyst reports. Societe Generale reaffirmed a “sell” rating and set a $143.00 price objective on shares of International Business Machines in a research note on Friday, January 5th. BMO Capital Markets upped their price objective on shares of International Business Machines from $155.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Bank of America upped their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Jefferies Financial Group started coverage on shares of International Business Machines in a research note on Friday, January 5th. They set a “hold” rating and a $180.00 price target on the stock. Finally, Sanford C. Bernstein increased their price target on shares of International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $178.08.

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.