MFG Wealth Management Inc. Takes Position in International Business Machines Co. (NYSE:IBM)

MFG Wealth Management Inc. purchased a new position in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 12,721 shares of the technology company’s stock, valued at approximately $2,796,000. International Business Machines comprises approximately 2.6% of MFG Wealth Management Inc.’s portfolio, making the stock its 13th biggest holding.

A number of other large investors have also bought and sold shares of the stock. International Assets Investment Management LLC increased its stake in shares of International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after buying an additional 2,702,340 shares during the period. Holocene Advisors LP bought a new stake in shares of International Business Machines in the third quarter worth about $573,306,000. State Street Corp raised its position 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 purchasing an additional 1,200,803 shares during the last quarter. KBC Group NV grew its position in shares of International Business Machines by 90.4% in the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after buying an additional 800,930 shares during the last quarter. Finally, Strategic Financial Concepts LLC increased its stake in shares of International Business Machines by 23,311.1% during the fourth 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 period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IBM. BMO Capital Markets raised their price target on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Bank of America upped their price target on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their price objective on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Stifel Nicolaus boosted their target price on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Jefferies Financial Group increased their price target on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Performance

Shares of IBM opened at $255.86 on Thursday. The company has a market cap of $236.58 billion, a price-to-earnings ratio of 39.92, a P/E/G ratio of 5.57 and a beta of 0.76. The business’s fifty day simple moving average is $230.70 and its two-hundred day simple moving average is $218.22. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $265.72. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Research analysts anticipate that International Business Machines Co. will post 10.75 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a $1.67 dividend. 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 2.61%. International Business Machines’s dividend payout ratio is presently 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.