Cullen Frost Bankers Inc. Acquires 231 Shares of International Business Machines Co. (NYSE:IBM)

Cullen Frost Bankers Inc. raised its holdings in shares of International Business Machines Co. (NYSE:IBM) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,239 shares of the technology company’s stock after purchasing an additional 231 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in International Business Machines were worth $18,518,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. lifted its position in shares of International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after purchasing an additional 166 shares during the last quarter. Blue Zone Wealth Advisors LLC bought a new stake in shares of International Business Machines during the fourth quarter worth $242,000. Brady Martz Wealth Solutions LLC bought a new stake in shares of International Business Machines in the fourth quarter valued at about $1,940,000. Tranquilli Financial Advisor LLC bought a new stake in shares of International Business Machines in the fourth quarter valued at about $373,000. Finally, Philip James Wealth Mangement LLC bought a new stake in shares of International Business Machines in the third quarter valued at about $5,117,000. 58.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the business’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 value of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Sanford C. Bernstein lifted their price objective on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Wedbush assumed coverage on International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating for the company. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. Finally, UBS Group lifted their price objective on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Price Performance

Shares of IBM stock opened at $251.40 on Thursday. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. The firm has a market capitalization of $233.11 billion, a price-to-earnings ratio of 39.22, a PEG ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The stock’s 50-day simple moving average is $240.04 and its 200-day simple moving average is $225.58.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, equities analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

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.