Meeder Advisory Services Inc. Purchases 1,665 Shares of International Business Machines Co. (NYSE:IBM)

Meeder Advisory Services Inc. grew its holdings in shares of International Business Machines Co. (NYSE:IBM) by 10.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,514 shares of the technology company’s stock after buying an additional 1,665 shares during the period. Meeder Advisory Services Inc.’s holdings in International Business Machines were worth $3,850,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OV Management LLC boosted its stake in International Business Machines by 8.2% during the fourth quarter. OV Management LLC now owns 11,182 shares of the technology company’s stock worth $2,458,000 after acquiring an additional 850 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of International Business Machines during the fourth quarter valued at approximately $16,342,000. May Hill Capital LLC bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $321,000. Lokken Investment Group LLC increased its position in International Business Machines by 3.3% during the 4th quarter. Lokken Investment Group LLC now owns 2,361 shares of the technology company’s stock valued at $519,000 after buying an additional 75 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in International Business Machines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock valued at $4,589,145,000 after buying an additional 427,499 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.18% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $250.34 on Wednesday. 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 $232.13 billion, a PE ratio of 39.05, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The firm’s 50 day moving average price is $250.52 and its 200-day moving average price is $232.13. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $266.45.

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

International Business Machines Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend 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 recent research reports. Morgan Stanley increased their target price on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. UBS Group raised 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. Wedbush assumed coverage on shares of International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating for the company. 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. Finally, Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $231.13.

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.