Ring Mountain Capital LLC Takes $211,000 Position in International Business Machines Co. (NYSE:IBM)

Ring Mountain Capital LLC bought a new stake in International Business Machines Co. (NYSE:IBM) in the 4th quarter, HoldingsChannel.com reports. The firm bought 959 shares of the technology company’s stock, valued at approximately $211,000.

Several other large investors have also modified their holdings of IBM. Pettinga Financial Advisors LLC purchased a new stake in International Business Machines in the 3rd quarter valued at $221,000. Pure Financial Advisors LLC raised its position in International Business Machines by 5.1% during the 3rd quarter. Pure Financial Advisors LLC now owns 5,196 shares of the technology company’s stock worth $1,149,000 after buying an additional 252 shares during the last quarter. Van ECK Associates Corp raised its position in International Business Machines by 28.1% during the 3rd quarter. Van ECK Associates Corp now owns 199,960 shares of the technology company’s stock worth $46,541,000 after buying an additional 43,804 shares during the last quarter. Opes Wealth Management LLC purchased a new position in International Business Machines during the 3rd quarter worth $206,000. Finally, Lansing Street Advisors raised its position in International Business Machines by 3.4% during the 3rd quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock worth $332,000 after buying an additional 49 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.07% of the stock is currently owned by insiders.

International Business Machines Price Performance

IBM opened at $250.04 on Tuesday. The company’s 50 day simple moving average is $238.93 and its 200 day simple moving average is $224.98. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72. The stock has a market capitalization of $231.85 billion, a PE ratio of 39.01, a P/E/G ratio of 5.81 and a beta of 0.76.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results 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 net margin of 9.60% and a return on equity of 38.99%. As a group, sell-side analysts expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.67%. International Business Machines’s payout ratio is 104.21%.

Analysts Set New Price Targets

IBM has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Jefferies Financial Group increased their price target on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. increased their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Morgan Stanley increased their price target on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, International Business Machines currently 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.