New Age Alpha Advisors LLC Acquires 11,042 Shares of International Business Machines Corporation $IBM

New Age Alpha Advisors LLC increased its holdings in International Business Machines Corporation (NYSE:IBM) by 140.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,919 shares of the technology company’s stock after purchasing an additional 11,042 shares during the period. New Age Alpha Advisors LLC’s holdings in International Business Machines were worth $5,604,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. CVA Family Office LLC increased its position in International Business Machines by 1.4% in the fourth quarter. CVA Family Office LLC now owns 2,389 shares of the technology company’s stock worth $708,000 after purchasing an additional 33 shares during the last quarter. Foster Group Inc. increased its position in International Business Machines by 1.3% in the fourth quarter. Foster Group Inc. now owns 2,507 shares of the technology company’s stock worth $742,000 after purchasing an additional 33 shares during the last quarter. New Covenant Trust Company N.A. increased its position in International Business Machines by 3.8% in the fourth quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company’s stock worth $264,000 after purchasing an additional 33 shares during the last quarter. McGowan Group Asset Management Inc. increased its position in International Business Machines by 1.2% in the fourth quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company’s stock worth $798,000 after purchasing an additional 33 shares during the last quarter. Finally, CFS Investment Advisory Services LLC increased its position in International Business Machines by 0.4% in the third quarter. CFS Investment Advisory Services LLC now owns 9,359 shares of the technology company’s stock worth $2,878,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the topic of several research reports. Citigroup started coverage on shares of International Business Machines in a research report on Friday, April 10th. They issued a “buy” rating and a $285.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on shares of International Business Machines from $317.00 to $283.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Erste Group Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Evercore boosted their price objective on shares of International Business Machines from $330.00 to $345.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Finally, BMO Capital Markets cut their price objective on shares of International Business Machines from $290.00 to $270.00 and set a “market perform” rating on the stock in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $294.41.

Insider Activity

In related news, Director Michael Miebach bought 434 shares of the stock in a transaction dated Wednesday, February 25th. The stock was purchased at an average cost of $233.33 per share, with a total value of $101,265.22. Following the completion of the purchase, the director owned 434 shares of the company’s stock, valued at $101,265.22. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.27% of the company’s stock.

International Business Machines Trading Up 0.0%

IBM stock opened at $253.88 on Monday. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. International Business Machines Corporation has a twelve month low of $212.34 and a twelve month high of $324.90. The stock has a market capitalization of $238.62 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 2.63 and a beta of 0.58. The firm’s fifty day simple moving average is $238.70 and its two-hundred day simple moving average is $272.21.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. The firm had revenue of $15.92 billion during the quarter, compared to analyst estimates of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The business’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.60 earnings per share. As a group, analysts anticipate that International Business Machines Corporation will post 12.4 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be paid a dividend of $1.69 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, May 8th. International Business Machines’s payout ratio is presently 59.77%.

Key International Business Machines News

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: IBM and the U.S. Commerce Department announced a plan to launch America’s first purpose-built quantum foundry, with IBM set to receive the largest share of federal support and contribute matching capital. IBM and U.S. Department of Commerce Announce America’s First Purpose-Built Quantum Foundry, Supported by Proposed $1 Billion CHIPS Award
• Positive Sentiment: Analysts and media reports say the quantum funding package is a major new catalyst for IBM, helping drive strong share-price momentum and lifting sentiment around the stock’s long-term growth prospects. IBM shares extend rally as Wedbush calls US quantum investment a “new catalyst”
• Positive Sentiment: IBM’s push into quantum computing and related hot tech segments is being viewed as evidence the company is expanding beyond legacy businesses into higher-growth opportunities. Why IBM Stock Was Rocking it This Week
• Neutral Sentiment: Some coverage highlights that IBM’s valuation, debt load, and execution risk will matter as the company commits capital to the quantum foundry project. IBM’s US$1b Anderon Quantum Foundry Puts Valuation And Debt In Focus

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.