Terra Nova Asset Management LLC Has $2.38 Million Holdings in International Business Machines Co. (NYSE:IBM)

Terra Nova Asset Management LLC lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,844 shares of the technology company’s stock after buying an additional 212 shares during the quarter. International Business Machines comprises about 1.8% of Terra Nova Asset Management LLC’s holdings, making the stock its 23rd largest position. Terra Nova Asset Management LLC’s holdings in International Business Machines were worth $2,384,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Meeder Asset Management Inc. increased its position in shares of International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after buying an additional 166 shares during the period. Brady Martz Wealth Solutions LLC bought a new position in International Business Machines during the fourth quarter worth $1,940,000. Susquehanna Fundamental Investments LLC bought a new position in International Business Machines during the second quarter worth $7,160,000. Philip James Wealth Mangement LLC bought a new position in International Business Machines during the third quarter worth $5,117,000. Finally, Nordea Investment Management AB boosted its stake in International Business Machines by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after acquiring an additional 4,625 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.07% of the stock is currently owned by corporate insiders.

International Business Machines Stock Performance

Shares of IBM stock opened at $224.73 on Monday. The firm has a 50-day moving average of $222.87 and a 200-day moving average of $210.89. The company has a market cap of $207.80 billion, a P/E ratio of 32.71, a P/E/G ratio of 4.71 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines Co. has a one year low of $162.62 and a one year high of $239.35.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.20 earnings per share. Equities research analysts forecast that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.97%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IBM. The Goldman Sachs Group increased their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. BMO Capital Markets increased their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. Morgan Stanley raised their price objective on shares of International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. Finally, Jefferies Financial Group raised their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and an average target price of $216.87.

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.