Mainstream Capital Management LLC Acquires New Shares in International Business Machines Co. (NYSE:IBM)

Mainstream Capital Management LLC acquired a new stake in International Business Machines Co. (NYSE:IBM) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 441 shares of the technology company’s stock, valued at approximately $97,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. lifted its stake in shares of International Business Machines by 40.9% in the 3rd 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 last quarter. Blue Zone Wealth Advisors LLC bought a new position in International Business Machines in the 4th quarter worth $242,000. Brady Martz Wealth Solutions LLC bought a new position in International Business Machines in the 4th quarter worth $1,940,000. Tranquilli Financial Advisor LLC bought a new position in International Business Machines in the 4th quarter worth $373,000. Finally, Philip James Wealth Mangement LLC bought a new position in International Business Machines in the 3rd quarter worth $5,117,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction dated 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 directly owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on IBM. BMO Capital Markets lifted their target price on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Bank of America lifted their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Jefferies Financial Group lifted their target price on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. UBS Group lifted their target price on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Finally, StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Two research 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 MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Performance

NYSE IBM opened at $250.04 on Tuesday. The stock has a market cap of $231.85 billion, a P/E ratio of 39.01, a PEG ratio of 5.81 and a beta of 0.76. The company’s 50-day simple moving average is $238.93 and its 200 day simple moving average is $224.98. International Business Machines Co. has a twelve month low of $162.62 and a twelve month 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 released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 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, research analysts forecast 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 will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a $1.67 dividend. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.67%. International Business Machines’s dividend payout ratio (DPR) is presently 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.