Jennison Associates LLC Buys 317,079 Shares of International Business Machines Co. (NYSE:IBM)

Jennison Associates LLC lifted its stake in shares of International Business Machines Co. (NYSE:IBM) by 983.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 349,312 shares of the technology company’s stock after purchasing an additional 317,079 shares during the quarter. Jennison Associates LLC’s holdings in International Business Machines were worth $57,130,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Naples Money Management LLC bought a new position in shares of International Business Machines during the 4th quarter worth about $28,000. Briaud Financial Planning Inc bought a new position in shares of International Business Machines during the 3rd quarter worth about $31,000. Stone House Investment Management LLC boosted its position in shares of International Business Machines by 971.4% during the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 204 shares in the last quarter. Financial Gravity Asset Management Inc. lifted its position in International Business Machines by 67.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 91 shares in the last quarter. Finally, Cordant Inc. lifted its position in International Business Machines by 753.3% in the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after acquiring an additional 226 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 0.2 %

Shares of IBM stock opened at $182.19 on Wednesday. The company has a 50 day moving average of $188.35 and a 200-day moving average of $169.88. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22. International Business Machines Co. has a 12-month low of $120.55 and a 12-month high of $199.18. The firm has a market cap of $167.02 billion, a P/E ratio of 22.41, a PEG ratio of 3.57 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, topping the consensus estimate of $3.78 by $0.09. The company had revenue of $17.38 billion during the quarter, compared to the consensus estimate of $17.29 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. International Business Machines’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 EPS. Sell-side analysts anticipate that International Business Machines Co. will post 10.04 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were issued a $1.66 dividend. This represents a $6.64 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is presently 81.67%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. BMO Capital Markets raised their price target on shares of International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Sanford C. Bernstein increased their price objective 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. Societe Generale reiterated a “sell” rating and issued a $143.00 price objective on shares of International Business Machines in a research note on Friday, January 5th. UBS Group increased their price objective on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research note on Monday. Finally, Evercore ISI upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $165.00 to $200.00 in a research note on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and an average price target of $177.23.

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.