6,150 Shares in International Business Machines Co. (NYSE:IBM) Bought by Millstone Evans Group LLC

Millstone Evans Group LLC bought a new stake in International Business Machines Co. (NYSE:IBM) during the 4th quarter, HoldingsChannel reports. The fund bought 6,150 shares of the technology company’s stock, valued at approximately $1,352,000. International Business Machines comprises approximately 0.9% of Millstone Evans Group LLC’s holdings, making the stock its 21st biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. United Bank increased its holdings in International Business Machines by 53.3% in the third quarter. United Bank now owns 5,628 shares of the technology company’s stock valued at $1,244,000 after buying an additional 1,956 shares in the last quarter. Quest Partners LLC increased its stake in International Business Machines by 23,700.0% in the 3rd quarter. Quest Partners LLC now owns 238 shares of the technology company’s stock valued at $53,000 after purchasing an additional 237 shares in the last quarter. Citizens Financial Group Inc. RI raised its holdings in International Business Machines by 2.1% during the third quarter. Citizens Financial Group Inc. RI now owns 14,815 shares of the technology company’s stock worth $3,275,000 after purchasing an additional 302 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in International Business Machines by 23.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 95,529 shares of the technology company’s stock worth $21,120,000 after purchasing an additional 18,340 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in International Business Machines by 587.1% in the third quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock valued at $134,262,000 after purchasing an additional 536,785 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now directly 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by insiders.

International Business Machines Stock Up 0.2 %

Shares of NYSE:IBM opened at $243.75 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The firm has a market cap of $226.02 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 5.81 and a beta of 0.74. The stock’s 50-day moving average price is $246.77 and its two-hundred day moving average price is $229.71. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Analysts Set New Price Targets

Several research firms have recently issued reports on IBM. Oppenheimer began coverage on International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target for the company. Jefferies Financial Group lifted their target price on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. BMO Capital Markets increased their price target on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Finally, Wedbush began coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.