Mainstay Capital Management LLC ADV Boosts Stake in International Business Machines Co. (NYSE:IBM)

Mainstay Capital Management LLC ADV raised its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,698 shares of the technology company’s stock after purchasing an additional 96 shares during the period. International Business Machines accounts for approximately 0.3% of Mainstay Capital Management LLC ADV’s investment portfolio, making the stock its 28th biggest holding. Mainstay Capital Management LLC ADV’s holdings in International Business Machines were worth $2,132,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in IBM. Compass Financial Services Inc acquired a new position in shares of International Business Machines during the fourth quarter worth $26,000. Hazlett Burt & Watson Inc. increased its position in shares of International Business Machines by 1,054.5% during 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 in the last quarter. Hara Capital LLC acquired a new position in shares of International Business Machines during the third quarter worth $29,000. Avondale Wealth Management increased its position 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 worth $34,000 after purchasing an additional 56 shares in the last quarter. Finally, Valued Wealth Advisors LLC increased its position in shares of International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after purchasing an additional 90 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IBM. Oppenheimer started coverage on International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target on the stock. Sanford C. Bernstein upped their target price on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research report on Monday, January 27th. The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Finally, Wedbush started coverage on International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines Trading Down 1.1 %

IBM stock opened at $261.77 on Monday. The company’s 50-day simple moving average is $235.27 and its 200-day simple moving average is $222.30. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $265.72. The firm has a market cap of $242.05 billion, a P/E ratio of 40.84, a PEG ratio of 5.81 and a beta of 0.76.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (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, equities analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

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.