St. Clair Advisors LLC Invests $3.58 Million in International Business Machines Co. (NYSE:IBM)

St. Clair Advisors LLC purchased a new position in shares of International Business Machines Co. (NYSE:IBM) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 16,301 shares of the technology company’s stock, valued at approximately $3,583,000. International Business Machines accounts for 1.0% of St. Clair Advisors LLC’s holdings, making the stock its 18th largest position.

Several other hedge funds and other institutional investors have also modified their holdings of IBM. Capital World Investors boosted its holdings in International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares during the period. Norges Bank purchased a new position in International Business Machines in the fourth quarter valued at $1,236,176,000. Raymond James Financial Inc. purchased a new position in International Business Machines in the fourth quarter valued at $592,746,000. Northern Trust Corp boosted its holdings in International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after purchasing an additional 1,704,209 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in International Business Machines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after purchasing an additional 1,539,888 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on IBM shares. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Morgan Stanley cut 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 note on Thursday, April 24th. JPMorgan Chase & Co. raised their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. BMO Capital Markets restated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada raised their price target on International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, International Business Machines presently has an average rating of “Moderate Buy” and a consensus price target of $249.06.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the business’s 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 in the company, valued at $11,387,221.07. The trade was a 37.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by insiders.

International Business Machines Stock Up 0.0%

IBM opened at $266.70 on Monday. The business’s 50-day simple moving average is $243.74 and its 200-day simple moving average is $236.69. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a one year low of $163.53 and a one year high of $267.98. The stock has a market capitalization of $247.87 billion, a P/E ratio of 41.61, 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, topping analysts’ consensus estimates of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The business’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.68 earnings per share. Analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared 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 2.52%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is 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.