M.E. Allison & CO. Inc. Purchases Shares of 4,704 International Business Machines Co. (NYSE:IBM)

M.E. Allison & CO. Inc. acquired a new position in International Business Machines Co. (NYSE:IBM) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 4,704 shares of the technology company’s stock, valued at approximately $1,034,000. International Business Machines comprises about 1.1% of M.E. Allison & CO. Inc.’s holdings, making the stock its 21st largest holding.

Other hedge funds and other institutional investors have also modified their holdings 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 worth $29,000 after purchasing an additional 116 shares during the period. Hara Capital LLC bought a new position in shares of International Business Machines during the third quarter valued at $29,000. Avondale Wealth Management lifted its holdings in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines during the second quarter valued at $36,000. Finally, Modus Advisors LLC bought a new position in shares of International Business Machines during the fourth quarter valued at $40,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 0.9 %

NYSE IBM opened at $224.73 on Monday. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $239.35. The stock has a market capitalization of $207.80 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 4.71 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The stock’s 50 day moving average price is $222.87 and its two-hundred day moving average price is $210.89.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.20 EPS. As a group, analysts anticipate that International Business Machines Co. will post 10.16 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

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

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s 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 transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.07% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. The Goldman Sachs Group lifted their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a report on Wednesday, October 2nd. BMO Capital Markets lifted their price target 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. Finally, Bank of America lifted their price objective 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. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, International Business Machines has a consensus rating of “Hold” and an average target price of $216.87.

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.