Lee Danner & Bass Inc. Has $2.99 Million Holdings in International Business Machines Co. (NYSE:IBM)

Lee Danner & Bass Inc. boosted its stake in shares of International Business Machines Co. (NYSE:IBM) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,588 shares of the technology company’s stock after purchasing an additional 390 shares during the quarter. Lee Danner & Bass Inc.’s holdings in International Business Machines were worth $2,987,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. raised its stake in International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares during the last quarter. Blue Zone Wealth Advisors LLC acquired a new position in International Business Machines during the 4th quarter valued at $242,000. Brady Martz Wealth Solutions LLC acquired a new position in International Business Machines during the 4th quarter valued at $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in International Business Machines during the 4th quarter valued at $373,000. Finally, Truist Financial Corp raised its stake in International Business Machines by 6.5% during the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after purchasing an additional 49,591 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on IBM shares. JPMorgan Chase & Co. upped their target price on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Sanford C. Bernstein increased their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Bank of America increased their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. UBS Group increased their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group increased their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $231.44.

International Business Machines Trading Down 3.5 %

Shares of International Business Machines stock opened at $243.42 on Friday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45. The company has a 50-day simple moving average of $246.29 and a 200 day simple moving average of $229.42. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $225.71 billion, a P/E ratio of 37.98, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74.

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

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

International Business Machines 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.