International Business Machines Co. (NYSE:IBM) Stock Position Lifted by OneAscent Financial Services LLC

OneAscent Financial Services LLC grew its position in International Business Machines Co. (NYSE:IBM) by 6.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,991 shares of the technology company’s stock after acquiring an additional 259 shares during the quarter. OneAscent Financial Services LLC’s holdings in International Business Machines were worth $877,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in IBM. Massachusetts Financial Services Co. MA boosted its stake in International Business Machines by 173.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 260,784 shares of the technology company’s stock valued at $57,328,000 after acquiring an additional 165,255 shares during the period. Meeder Advisory Services Inc. lifted its holdings in shares of International Business Machines by 10.5% in the 4th quarter. Meeder Advisory Services Inc. now owns 17,514 shares of the technology company’s stock worth $3,850,000 after purchasing an additional 1,665 shares during the last quarter. OV Management LLC boosted its position in International Business Machines by 8.2% during the 4th quarter. OV Management LLC now owns 11,182 shares of the technology company’s stock valued at $2,458,000 after purchasing an additional 850 shares during the period. Trexquant Investment LP bought a new position in International Business Machines during the 4th quarter worth $16,342,000. Finally, May Hill Capital LLC acquired a new stake in International Business Machines in the fourth quarter worth $321,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Down 0.2 %

International Business Machines stock opened at $249.90 on Thursday. 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 business has a 50 day moving average price of $251.05 and a two-hundred day moving average price of $232.26. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $266.45. The stock has a market cap of $231.72 billion, a price-to-earnings ratio of 38.99, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74.

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

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.67%. International Business Machines’s payout ratio is 104.21%.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

IBM has been the topic of several analyst reports. Bank of America raised their price target 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. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Wedbush began coverage on International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating for the company. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $231.13.

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.