Monterey Private Wealth Inc. Increases Stake in International Business Machines Co. (NYSE:IBM)

Monterey Private Wealth Inc. boosted its holdings in International Business Machines Co. (NYSE:IBM) by 32.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,666 shares of the technology company’s stock after purchasing an additional 404 shares during the quarter. Monterey Private Wealth Inc.’s holdings in International Business Machines were worth $366,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in IBM. International Assets Investment Management LLC grew its stake in shares of International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after purchasing an additional 2,702,340 shares during the period. Holocene Advisors LP purchased a new stake in International Business Machines during the third quarter worth $573,306,000. State Street Corp grew its holdings in International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. Eagle Asset Management Inc. increased its position in shares of International Business Machines by 587.1% in the third quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock valued at $134,262,000 after buying an additional 536,785 shares in the last quarter. Finally, KBC Group NV grew its stake in International Business Machines by 103.1% in the 3rd quarter. KBC Group NV now owns 886,323 shares of the technology company’s stock valued at $195,948,000 after acquiring an additional 449,912 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $224.73 on Tuesday. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $239.35. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The company’s 50-day moving average price is $223.09 and its two-hundred day moving average price is $211.48. The stock has a market cap of $207.80 billion, a PE ratio of 32.71, a price-to-earnings-growth ratio of 4.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 earnings per share. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.97%. International Business Machines’s payout ratio is presently 97.23%.

Analysts Set New Price Targets

Several research firms have recently commented on IBM. Sanford C. Bernstein increased their price target on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Bank of America raised their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Bernstein Bank upped their target price on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. UBS Group increased their price target on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Finally, Stifel Nicolaus increased their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $216.87.

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

About International Business Machines

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.