Novem Group Buys New Stake in International Business Machines Co. (NYSE:IBM)

Novem Group purchased a new position in shares of International Business Machines Co. (NYSE:IBM) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 6,276 shares of the technology company’s stock, valued at approximately $1,380,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBM. Treasurer of the State of North Carolina lifted its position in shares of International Business Machines by 0.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock worth $108,942,000 after buying an additional 4,131 shares during the period. Blue Zone Wealth Advisors LLC acquired a new position in International Business Machines during the fourth quarter worth $242,000. Tranquilli Financial Advisor LLC bought a new position in shares of International Business Machines during the fourth quarter valued at $373,000. Truist Financial Corp boosted its stake in shares of International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after purchasing an additional 49,591 shares in the last quarter. Finally, Mufg Securities Americas Inc. bought a new stake in shares of International Business Machines in the 4th quarter worth about $3,000,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 0.6%

Shares of IBM opened at $266.76 on Wednesday. The stock’s fifty day simple moving average is $244.53 and its 200-day simple moving average is $237.32. The firm has a market capitalization of $247.93 billion, a PE ratio of 41.62, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a 12-month low of $163.53 and a 12-month high of $269.28. 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 earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the prior year, the company posted $1.68 EPS. The company’s revenue was up .5% compared to the same quarter last year. As a group, research analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid a $1.68 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.52%. International Business Machines’s dividend payout ratio (DPR) is presently 115.66%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IBM shares. Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley decreased their price target on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Finally, Wedbush reaffirmed an “outperform” rating and set a $300.00 price target on shares of International Business Machines in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $249.06.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction dated Monday, March 3rd. The stock was 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 of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

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.