AGF Management Ltd. Has $3.86 Million Stock Position in International Business Machines Co. (NYSE:IBM)

AGF Management Ltd. raised its stake in International Business Machines Co. (NYSE:IBM) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,561 shares of the technology company’s stock after buying an additional 315 shares during the period. AGF Management Ltd.’s holdings in International Business Machines were worth $3,860,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Founders Financial Alliance LLC boosted its position in International Business Machines by 0.6% in the fourth quarter. Founders Financial Alliance LLC now owns 7,964 shares of the technology company’s stock valued at $1,751,000 after buying an additional 48 shares in the last quarter. Sollinda Capital Management LLC boosted its position in International Business Machines by 10.2% in the fourth quarter. Sollinda Capital Management LLC now owns 1,499 shares of the technology company’s stock valued at $330,000 after buying an additional 139 shares in the last quarter. Citizens Financial Group Inc. RI boosted its position in International Business Machines by 4.4% in the fourth quarter. Citizens Financial Group Inc. RI now owns 15,461 shares of the technology company’s stock valued at $3,399,000 after buying an additional 646 shares in the last quarter. Dearborn Partners LLC boosted its position in International Business Machines by 1.3% in the fourth quarter. Dearborn Partners LLC now owns 56,677 shares of the technology company’s stock valued at $12,459,000 after buying an additional 736 shares in the last quarter. Finally, Davis R M Inc. boosted its position in International Business Machines by 34.2% in the fourth quarter. Davis R M Inc. now owns 11,211 shares of the technology company’s stock valued at $2,465,000 after buying an additional 2,860 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $249.72 on Thursday. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $266.45. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $231.56 billion, a PE ratio of 38.96, a P/E/G ratio of 5.81 and a beta of 0.74. The firm has a fifty day simple moving average of $243.21 and a 200 day simple moving average of $227.58.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating 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%. On average, sell-side analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Analyst Ratings Changes

A number of brokerages have recently commented on IBM. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Jefferies Financial Group lifted their price target on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Morgan Stanley lifted their price target on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, Oppenheimer began coverage on shares of International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $231.44.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.07% of the company’s stock.

International Business Machines Company 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.