Shay Capital LLC Invests $659,000 in International Business Machines Co. (NYSE:IBM)

Shay Capital LLC acquired a new position in International Business Machines Co. (NYSE:IBM) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 3,000 shares of the technology company’s stock, valued at approximately $659,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Treasurer of the State of North Carolina lifted its stake in 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 valued at $108,942,000 after acquiring an additional 4,131 shares during the period. Blue Zone Wealth Advisors LLC purchased a new position in shares of International Business Machines during the fourth quarter valued at approximately $242,000. Brady Martz Wealth Solutions LLC purchased a new stake in International Business Machines in the fourth quarter worth approximately $1,940,000. Tranquilli Financial Advisor LLC purchased a new stake in International Business Machines during the 4th quarter valued at $373,000. Finally, Truist Financial Corp raised its stake in International Business Machines by 6.5% during the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after buying an additional 49,591 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on IBM shares. Morgan Stanley reduced their price objective on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. increased their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Tuesday. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the stock a “hold” rating in a research note on Thursday, April 24th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, International Business Machines has an average rating of “Moderate Buy” and an average target price of $249.06.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.18% of the stock is owned by insiders.

International Business Machines Stock Up 3.4%

IBM opened at $266.55 on Friday. International Business Machines Co. has a 52 week low of $163.53 and a 52 week high of $268.08. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The firm has a 50-day simple moving average of $243.38 and a two-hundred day simple moving average of $235.88. The company has a market capitalization of $247.73 billion, a PE ratio of 41.58, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64.

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

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.52%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is currently 115.66%.

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.