International Business Machines Co. (NYSE:IBM) Shares Bought by SouthState Corp

SouthState Corp lifted its stake in International Business Machines Co. (NYSE:IBM) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,444 shares of the technology company’s stock after acquiring an additional 100 shares during the period. SouthState Corp’s holdings in International Business Machines were worth $4,161,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Naples Money Management LLC bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $28,000. Briaud Financial Planning Inc bought a new stake in shares of International Business Machines in the 3rd quarter worth approximately $31,000. Stone House Investment Management LLC raised its holdings in shares of International Business Machines by 971.4% during the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 204 shares during the period. Financial Gravity Asset Management Inc. raised its holdings in shares of International Business Machines by 67.9% during the third quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after acquiring an additional 91 shares during the period. Finally, Cordant Inc. raised its holdings in shares of International Business Machines by 753.3% during the fourth quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after acquiring an additional 226 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of NYSE:IBM traded up $0.26 during midday trading on Thursday, reaching $164.69. 3,824,327 shares of the company’s stock were exchanged, compared to its average volume of 4,997,535. International Business Machines Co. has a 12 month low of $120.55 and a 12 month high of $199.18. The firm has a market capitalization of $150.98 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74. The company’s 50 day simple moving average is $186.54 and its two-hundred day simple moving average is $170.87. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same period last year, the firm posted $1.36 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. Equities research analysts expect that International Business Machines Co. will post 9.94 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 4.06%. The ex-dividend date is Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio (DPR) is presently 75.20%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IBM. Royal Bank of Canada upped their price objective on shares of International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Bank of America boosted their target price on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Societe Generale reissued a “sell” rating and issued a $143.00 target price on shares of International Business Machines in a research report on Friday, January 5th. Stifel Nicolaus reissued a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a research report on Wednesday, April 17th. Finally, Evercore raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $181.29.

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.