Bell Bank Has $11.29 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Bell Bank raised its stake in International Business Machines Co. (NYSE:IBM) by 8.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,365 shares of the technology company’s stock after acquiring an additional 4,182 shares during the quarter. International Business Machines comprises 0.8% of Bell Bank’s holdings, making the stock its 16th largest position. Bell Bank’s holdings in International Business Machines were worth $11,292,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Holocene Advisors LP acquired a new position in shares of International Business Machines in the third quarter valued at about $573,306,000. State Street Corp increased its holdings in shares of International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the period. KBC Group NV raised its position in shares of International Business Machines by 90.4% in the fourth quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock valued at $370,909,000 after buying an additional 800,930 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of International Business Machines by 23,311.1% in the fourth quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock valued at $153,262,000 after buying an additional 694,204 shares during the period. Finally, Eagle Asset Management Inc. grew its position in International Business Machines by 587.1% during the third quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock worth $134,262,000 after buying an additional 536,785 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of NYSE IBM opened at $261.77 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The firm’s 50-day simple moving average is $235.27 and its 200 day simple moving average is $221.81. The stock has a market cap of $242.05 billion, a price-to-earnings ratio of 40.84, a PEG ratio of 5.80 and a beta of 0.76. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, research analysts anticipate that International Business Machines Co. will post 10.77 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on IBM shares. Jefferies Financial Group increased their target price on 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 raised 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 report on Thursday, January 30th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Oppenheimer began coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective on the stock. Finally, Wedbush assumed coverage on International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $231.44.

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.