Tallon Kerry Patrick Makes New Investment in International Business Machines Co. (NYSE:IBM)

Tallon Kerry Patrick acquired a new stake in International Business Machines Co. (NYSE:IBM) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 4,102 shares of the technology company’s stock, valued at approximately $902,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. lifted its position in International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares during the last quarter. Hara Capital LLC bought a new stake in International Business Machines in the third quarter valued at approximately $29,000. Avondale Wealth Management lifted its position in International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares during the last quarter. Modus Advisors LLC bought a new stake in International Business Machines in the fourth quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP bought a new stake in International Business Machines in the third quarter valued at approximately $43,000. Institutional investors own 58.96% of the company’s stock.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. Stifel Nicolaus upped their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. BMO Capital Markets upped their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. UBS Group upped their target price on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday. Finally, The Goldman Sachs Group upped their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $215.81.

International Business Machines Price Performance

Shares of IBM stock opened at $222.54 on Friday. The stock has a market cap of $205.77 billion, a price-to-earnings ratio of 32.39, a PEG ratio of 4.71 and a beta of 0.74. The business’s fifty day moving average is $222.47 and its 200 day moving average is $210.23. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $239.35. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.20 earnings per share. Research analysts expect that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were paid a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.00%. International Business Machines’s dividend payout ratio is currently 97.23%.

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.