Black Diamond Financial LLC Purchases New Stake in International Business Machines Co. (NYSE:IBM)

Black Diamond Financial LLC purchased a new stake in International Business Machines Co. (NYSE:IBM) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 2,704 shares of the technology company’s stock, valued at approximately $594,000.

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

International Business Machines Price Performance

Shares of NYSE IBM opened at $261.77 on Monday. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $265.72. 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 has a market capitalization of $242.05 billion, a price-to-earnings ratio of 40.84, a PEG ratio of 5.81 and a beta of 0.76. The firm has a 50-day moving average of $235.27 and a two-hundred day moving average of $222.30.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates 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, analysts expect that International Business Machines Co. will post 10.78 earnings per share 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 issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Morgan Stanley boosted their target price on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Bank of America boosted their target price on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, BMO Capital Markets upped their price target on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $231.44.

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.