Generali Asset Management SPA SGR Invests $17.37 Million in International Business Machines Co. (NYSE:IBM)

Generali Asset Management SPA SGR purchased a new position in shares of International Business Machines Co. (NYSE:IBM) in the fourth quarter, Holdings Channel.com reports. The fund purchased 79,026 shares of the technology company’s stock, valued at approximately $17,372,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Compass Financial Services Inc acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $26,000. Vision Financial Markets LLC purchased a new position in shares of International Business Machines during the 4th quarter worth approximately $31,000. Avondale Wealth Management boosted its position in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares during the period. Valued Wealth Advisors LLC boosted its position in shares of International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after purchasing an additional 90 shares during the period. Finally, Rialto Wealth Management LLC purchased a new position in International Business Machines in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.07% of the company’s stock.

International Business Machines Stock Up 1.9 %

Shares of NYSE IBM opened at $253.00 on Tuesday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45. The company has a market capitalization of $234.60 billion, a PE ratio of 39.47, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The firm’s 50-day moving average is $244.84 and its two-hundred day moving average is $228.85.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Equities analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

Wall Street Analyst Weigh In

IBM has been the topic of a number of analyst reports. Jefferies Financial Group raised their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. JPMorgan Chase & Co. raised their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. BMO Capital Markets raised their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Finally, Bank of America raised their price objective 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus price target of $231.44.

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.