Fisher Funds Management LTD Invests $18.34 Million in International Business Machines Co. (NYSE:IBM)

Fisher Funds Management LTD acquired a new position in International Business Machines Co. (NYSE:IBM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 83,710 shares of the technology company’s stock, valued at approximately $18,338,000.

A number of other hedge funds have also recently made changes to their positions in IBM. Holocene Advisors LP bought a new stake in shares of International Business Machines in the 3rd quarter worth approximately $573,306,000. State Street Corp raised its holdings in International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after buying an additional 1,200,803 shares during the last quarter. KBC Group NV raised its holdings in International Business Machines by 90.4% during the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock valued at $370,909,000 after buying an additional 800,930 shares during the last quarter. Strategic Financial Concepts LLC raised its holdings in International Business Machines by 23,311.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock valued at $153,262,000 after buying an additional 694,204 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in International Business Machines by 587.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock valued at $134,262,000 after buying an additional 536,785 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IBM. Jefferies Financial Group upped their price target on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. BMO Capital Markets upped 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 report on Thursday, January 30th. Wedbush began coverage on shares of International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. Morgan Stanley upped their price target on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Down 1.1 %

NYSE:IBM opened at $261.77 on Friday. The firm’s 50-day moving average price is $235.27 and its 200-day moving average price is $222.05. The company has a market capitalization of $242.05 billion, a PE ratio of 40.84, a P/E/G ratio of 5.81 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $265.72.

International Business Machines (NYSE:IBM) last released 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%. On average, equities analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed 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. This represents a $6.68 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

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.