Allstate Corp Acquires Shares of 27,383 International Business Machines Co. (NYSE:IBM)

Allstate Corp bought a new position in International Business Machines Co. (NYSE:IBM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 27,383 shares of the technology company’s stock, valued at approximately $6,020,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Compass Financial Services Inc acquired a new stake in International Business Machines in the fourth quarter valued at $26,000. Vision Financial Markets LLC purchased a new position in shares of International Business Machines in the 4th quarter valued at about $31,000. Avondale Wealth Management lifted its stake in shares of International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares during the period. Valued Wealth Advisors LLC boosted its holdings in International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after buying an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new position in International Business Machines during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 1.0 %

Shares of IBM opened at $243.83 on Friday. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $266.45. The company’s fifty day moving average is $249.51 and its two-hundred day moving average is $231.29. The firm has a market cap of $226.10 billion, a PE ratio of 38.04, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

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, 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%. Analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

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

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value 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. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on IBM shares. Morgan Stanley boosted their price target 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. BMO Capital Markets boosted their target price on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Bank of America raised their price target on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Jefferies Financial Group boosted their price objective 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. Finally, Wedbush started coverage on shares of International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $231.44.

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.