Navellier & Associates Inc. Increases Stock Holdings in International Business Machines Co. (NYSE:IBM)

Navellier & Associates Inc. lifted its position in International Business Machines Co. (NYSE:IBM) by 34.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,507 shares of the technology company’s stock after purchasing an additional 1,397 shares during the quarter. Navellier & Associates Inc.’s holdings in International Business Machines were worth $1,211,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. grew its holdings in shares of International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares during the period. Blue Zone Wealth Advisors LLC purchased a new stake in shares of International Business Machines in the fourth quarter valued at about $242,000. Brady Martz Wealth Solutions LLC purchased a new stake in shares of International Business Machines in the fourth quarter valued at about $1,940,000. Tranquilli Financial Advisor LLC purchased a new position in International Business Machines during the fourth quarter worth about $373,000. Finally, Philip James Wealth Mangement LLC purchased a new position in International Business Machines during the third quarter worth about $5,117,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 1.1 %

Shares of 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 stock has a market cap of $242.05 billion, a price-to-earnings ratio of 40.84, a price-to-earnings-growth ratio of 5.81 and a beta of 0.76. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. 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 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%. As a group, equities research analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.55%. International Business Machines’s payout ratio is currently 104.21%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of 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. UBS Group increased their target price on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Bank of America increased their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Jefferies Financial Group increased their target price 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. Finally, Sanford C. Bernstein increased their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average target price of $231.44.

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.