Modus Advisors LLC Purchases New Shares in International Business Machines Co. (NYSE:IBM)

Modus Advisors LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, Holdings Channel reports. The firm acquired 181 shares of the technology company’s stock, valued at approximately $40,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of International Business Machines by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 14,832 shares of the technology company’s stock valued at $3,261,000 after buying an additional 1,281 shares in the last quarter. Versant Capital Management Inc increased its stake in International Business Machines by 92.2% in the fourth quarter. Versant Capital Management Inc now owns 642 shares of the technology company’s stock valued at $141,000 after acquiring an additional 308 shares during the last quarter. Global Wealth Strategies & Associates lifted its stake in International Business Machines by 10.0% during the fourth quarter. Global Wealth Strategies & Associates now owns 1,245 shares of the technology company’s stock worth $274,000 after purchasing an additional 113 shares during the last quarter. Old Port Advisors boosted its holdings in shares of International Business Machines by 2.8% in the 4th quarter. Old Port Advisors now owns 20,868 shares of the technology company’s stock valued at $4,588,000 after purchasing an additional 570 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of International Business Machines by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,094,106 shares of the technology company’s stock valued at $241,885,000 after purchasing an additional 46,951 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Bank of America raised their price target on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Stifel Nicolaus boosted their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their price target on International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. Sanford C. Bernstein boosted their price objective on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $210.65.

International Business Machines Stock Up 1.2 %

NYSE:IBM opened at $222.65 on Friday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm’s 50-day moving average price is $220.38 and its 200-day moving average price is $206.89. The company has a market capitalization of $205.87 billion, a PE ratio of 32.41, a P/E/G ratio of 5.18 and a beta of 0.73. International Business Machines Co. has a 1-year low of $157.88 and a 1-year high of $239.35.

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, beating analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion during 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 quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.20 earnings per share. On average, equities analysts predict that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

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

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is currently owned by 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.