Rafferty Asset Management LLC Boosts Stock Position in International Business Machines Co. (NYSE:IBM)

Rafferty Asset Management LLC raised its position in shares of International Business Machines Co. (NYSE:IBM) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 319,163 shares of the technology company’s stock after purchasing an additional 1,332 shares during the quarter. Rafferty Asset Management LLC’s holdings in International Business Machines were worth $70,162,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Compass Financial Services Inc purchased a new stake in shares of International Business Machines in the fourth quarter worth about $26,000. Vision Financial Markets LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth about $31,000. Valued Wealth Advisors LLC boosted its stake in shares of International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after buying an additional 90 shares during the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth about $35,000. Finally, Tacita Capital Inc raised its holdings in International Business Machines by 174.3% in the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock worth $42,000 after purchasing an additional 122 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling

In other news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IBM. Morgan Stanley reduced their price target on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. upped their price target on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. BMO Capital Markets reaffirmed a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Oppenheimer initiated coverage on International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target for the company. Finally, Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $248.50.

International Business Machines Price Performance

NYSE:IBM opened at $258.19 on Thursday. The stock has a market cap of $239.96 billion, a PE ratio of 40.28, a P/E/G ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a one year low of $163.53 and a one 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 50 day moving average price of $243.19 and a 200 day moving average price of $235.51.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.68 earnings per share. Equities research analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.60%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is presently 115.66%.

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.