International Business Machines Co. (NYSE:IBM) Shares Purchased by Peddock Capital Advisors LLC

Peddock Capital Advisors LLC grew its position in International Business Machines Co. (NYSE:IBM) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,379 shares of the technology company’s stock after purchasing an additional 255 shares during the period. Peddock Capital Advisors LLC’s holdings in International Business Machines were worth $1,534,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of IBM. Charles Schwab Investment Management Inc. boosted its stake in shares of International Business Machines by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock worth $1,048,631,000 after buying an additional 61,028 shares during the last quarter. Northern Financial Advisors Inc increased its holdings in shares of International Business Machines by 14.0% during the 4th quarter. Northern Financial Advisors Inc now owns 7,319 shares of the technology company’s stock valued at $1,197,000 after purchasing an additional 900 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in International Business Machines by 13.1% during the fourth quarter. Apollon Wealth Management LLC now owns 45,464 shares of the technology company’s stock worth $7,436,000 after buying an additional 5,255 shares in the last quarter. Lincoln National Corp increased its holdings in International Business Machines by 0.8% in the fourth quarter. Lincoln National Corp now owns 34,831 shares of the technology company’s stock valued at $5,697,000 after buying an additional 270 shares in the last quarter. Finally, Maryland State Retirement & Pension System raised its position in shares of International Business Machines by 1.1% in the fourth quarter. Maryland State Retirement & Pension System now owns 70,741 shares of the technology company’s stock worth $11,570,000 after acquiring an additional 753 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Trading Up 0.9 %

Shares of IBM traded up $1.57 during midday trading on Wednesday, hitting $169.95. 1,896,972 shares of the stock were exchanged, compared to its average volume of 4,914,417. The stock has a fifty day simple moving average of $185.11 and a 200 day simple moving average of $171.88. International Business Machines Co. has a 52-week low of $120.55 and a 52-week high of $199.18. The firm has a market cap of $156.12 billion, a P/E ratio of 19.18, a P/E/G ratio of 4.08 and a beta of 0.74. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.36 EPS. On average, research analysts anticipate that International Business Machines Co. will post 9.92 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.93%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is presently 75.20%.

Analysts Set New Price Targets

Several research firms have commented on IBM. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Jefferies Financial Group dropped their target price on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a research note on Wednesday, April 17th. Evercore ISI upgraded International Business Machines from an “in-line” rating to an “outperform” rating and upped their price target for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Finally, Morgan Stanley dropped their target price on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $181.29.

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.