Fox Run Management L.L.C. Acquires New Position in International Business Machines Co. (NYSE:IBM)

Fox Run Management L.L.C. acquired a new stake in shares of International Business Machines Co. (NYSE:IBM) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 11,196 shares of the technology company’s stock, valued at approximately $2,461,000. International Business Machines comprises approximately 0.4% of Fox Run Management L.L.C.’s portfolio, making the stock its 6th biggest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Compass Financial Services Inc acquired a new stake in International Business Machines during the 4th quarter worth approximately $26,000. Vision Financial Markets LLC acquired a new stake in International Business Machines during the 4th quarter worth approximately $31,000. Avondale Wealth Management lifted its holdings in International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares in the last quarter. Valued Wealth Advisors LLC lifted its holdings in International Business Machines by 134.3% during the 4th 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 stake in International Business Machines during the 4th quarter worth approximately $35,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Up 0.2 %

Shares of NYSE:IBM opened at $243.75 on Friday. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $266.45. The stock has a market cap of $226.02 billion, a P/E ratio of 38.03, a P/E/G ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The firm has a fifty day moving average price of $246.77 and a 200 day moving average price of $229.71.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS 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%. Sell-side analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Insider Transactions at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction dated 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 owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IBM. Wedbush began coverage on shares of International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Monday, January 27th. Oppenheimer assumed coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective on the stock. UBS Group increased 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. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average price target of $231.44.

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.