Redmond Asset Management LLC Increases Stake in International Business Machines Co. (NYSE:IBM)

Redmond Asset Management LLC grew its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,933 shares of the technology company’s stock after purchasing an additional 229 shares during the period. Redmond Asset Management LLC’s holdings in International Business Machines were worth $2,404,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Compass Financial Services Inc acquired a new stake in International Business Machines in the fourth quarter valued at $26,000. Hazlett Burt & Watson Inc. lifted its stake in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after buying an additional 116 shares in the last quarter. Hara Capital LLC acquired a new stake in International Business Machines during the 3rd quarter valued at $29,000. Avondale Wealth Management increased its position in International Business Machines by 56.0% during the 4th 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 raised its position in shares of International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

NYSE:IBM opened at $261.77 on Friday. The firm has a market cap of $242.05 billion, a PE ratio of 40.84, a price-to-earnings-growth ratio of 5.80 and a beta of 0.76. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $265.72. 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’s 50-day moving average price is $235.27 and its two-hundred day moving average price is $221.81.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping 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%. On average, equities analysts anticipate that International Business Machines Co. will post 10.77 EPS for the current fiscal year.

International Business Machines Announces Dividend

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 issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein raised their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Jefferies Financial Group upped their target price on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. BMO Capital Markets increased 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. Finally, Bank of America boosted their price target on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines 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.