Migdal Insurance & Financial Holdings Ltd. Raises Position in International Business Machines Co. (NYSE:IBM)

Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of International Business Machines Co. (NYSE:IBM) by 18.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,767 shares of the technology company’s stock after purchasing an additional 281 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in International Business Machines were worth $388,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in IBM. Brookstone Capital Management raised its holdings in shares of International Business Machines by 1.3% during the third quarter. Brookstone Capital Management now owns 16,548 shares of the technology company’s stock valued at $3,658,000 after purchasing an additional 210 shares during the last quarter. CWM LLC raised its holdings in shares of International Business Machines by 5.6% during the third quarter. CWM LLC now owns 126,654 shares of the technology company’s stock valued at $28,001,000 after purchasing an additional 6,712 shares during the last quarter. Cypress Wealth Services LLC raised its holdings in shares of International Business Machines by 5.1% during the third quarter. Cypress Wealth Services LLC now owns 1,467 shares of the technology company’s stock valued at $324,000 after purchasing an additional 71 shares during the last quarter. Watts Gwilliam & Co. LLC purchased a new position in shares of International Business Machines during the third quarter valued at approximately $519,000. Finally, Cerro Pacific Wealth Advisors LLC grew its position in International Business Machines by 14.9% during the third quarter. Cerro Pacific Wealth Advisors LLC now owns 2,338 shares of the technology company’s stock valued at $517,000 after buying an additional 303 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $252.31 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The firm has a fifty day moving average price of $229.26 and a 200 day moving average price of $216.45. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. The firm has a market cap of $233.30 billion, a price-to-earnings ratio of 39.36, a P/E/G ratio of 5.63 and a beta of 0.76.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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%. As a group, sell-side analysts expect that International Business Machines Co. will post 10.73 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.65%. International Business Machines’s dividend payout ratio is 104.21%.

Wall Street Analyst Weigh In

IBM has been the subject of several recent research reports. UBS Group boosted their target price on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday. Wedbush initiated coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating for the company. Bank of America boosted their target price on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. boosted 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 report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $225.53.

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.