Clark Capital Management Group Inc. Grows Stock Position in International Business Machines Co. (NYSE:IBM)

Clark Capital Management Group Inc. raised its position in International Business Machines Co. (NYSE:IBM) by 14.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,563 shares of the technology company’s stock after buying an additional 808 shares during the quarter. Clark Capital Management Group Inc.’s holdings in International Business Machines were worth $1,443,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Compass Financial Services Inc purchased a new stake in International Business Machines in the 4th quarter valued at approximately $26,000. Vision Financial Markets LLC purchased a new stake in shares of International Business Machines in the fourth quarter valued at approximately $31,000. Avondale Wealth Management grew its holdings in International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares during the period. Valued Wealth Advisors LLC raised its position in International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after acquiring an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC purchased a new stake in shares of International Business Machines during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Bank of America increased their price target on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. BMO Capital Markets restated a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Oppenheimer assumed coverage on International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. Finally, StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $248.50.

Insider Buying and Selling at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by company insiders.

International Business Machines Price Performance

IBM stock opened at $249.32 on Friday. The stock has a market capitalization of $231.72 billion, a price-to-earnings ratio of 38.90, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 52-week low of $163.53 and a 52-week high of $266.45. The stock’s fifty day simple moving average is $243.01 and its 200-day simple moving average is $234.78.

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, beating the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.68 EPS. Equities research analysts expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.70%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is currently 115.66%.

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.