International Business Machines Co. (NYSE:IBM) Shares Purchased by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co boosted its stake in International Business Machines Co. (NYSE:IBM) by 35.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 77,168 shares of the technology company’s stock after purchasing an additional 20,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in International Business Machines were worth $16,964,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. Vanguard Group Inc. lifted its stake in International Business Machines by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock worth $20,189,023,000 after acquiring an additional 1,539,888 shares in the last quarter. Geode Capital Management LLC increased its stake in International Business Machines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock worth $4,589,145,000 after purchasing an additional 427,499 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of International Business Machines by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company’s stock worth $1,465,223,000 after purchasing an additional 126,547 shares in the last quarter. Norges Bank purchased a new position in shares of International Business Machines in the fourth quarter valued at approximately $1,236,176,000. Finally, Raymond James Financial Inc. acquired a new position in shares of International Business Machines in the fourth quarter valued at approximately $592,746,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the subject of several recent research reports. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Morgan Stanley lifted their target price on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Jefferies Financial Group cut their price target on International Business Machines from $270.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, March 31st. UBS Group lifted their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Finally, Oppenheimer assumed coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus target price of $231.13.

Insider Activity at International Business Machines

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 stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by company insiders.

International Business Machines Trading Down 6.6 %

NYSE:IBM opened at $227.31 on Friday. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. 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 stock has a fifty day moving average price of $251.46 and a two-hundred day moving average price of $232.41. The stock has a market capitalization of $210.78 billion, a price-to-earnings ratio of 35.46, a PEG ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating 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 anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company 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. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

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.