Raymond James Financial Inc. Invests $592.75 Million in International Business Machines Co. (NYSE:IBM)

Raymond James Financial Inc. acquired a new position in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,696,389 shares of the technology company’s stock, valued at approximately $592,746,000. Raymond James Financial Inc. owned about 0.29% of International Business Machines at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its stake in 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 position in International Business Machines during the fourth quarter worth $242,000. Brady Martz Wealth Solutions LLC bought a new position in International Business Machines during the fourth quarter worth $1,940,000. Tranquilli Financial Advisor LLC bought a new position in International Business Machines during the fourth quarter worth $373,000. Finally, Philip James Wealth Mangement LLC bought a new position in International Business Machines during the third quarter worth $5,117,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $251.40 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company’s 50-day moving average price is $240.04 and its two-hundred day moving average price is $225.58. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $265.72. The stock has a market cap of $233.11 billion, a PE ratio of 39.22, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74.

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

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Wall Street Analysts Forecast Growth

IBM has been the topic of several research analyst reports. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Sanford C. Bernstein raised their target price on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. JPMorgan Chase & Co. raised their target price 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. Finally, Bank of America raised their target price on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $231.44.

Insiders Place Their Bets

In other International Business Machines 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 transaction of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.07% of the stock is owned by company insiders.

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.