Gallacher Capital Management LLC Acquires New Holdings in International Business Machines Co. (NYSE:IBM)

Gallacher Capital Management LLC bought a new position in shares of International Business Machines Co. (NYSE:IBM) during the fourth quarter, HoldingsChannel reports. The fund bought 3,227 shares of the technology company’s stock, valued at approximately $528,000.

Several other institutional investors also recently modified their holdings of IBM. Desjardins Global Asset Management Inc. lifted its position in International Business Machines by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock valued at $644,000 after purchasing an additional 54 shares during the last quarter. Calamos Wealth Management LLC boosted its holdings in shares of International Business Machines by 2.8% during the fourth quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock worth $328,000 after purchasing an additional 55 shares during the period. Avion Wealth boosted its holdings in shares of International Business Machines by 6.2% during the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock worth $158,000 after purchasing an additional 56 shares during the period. Northwest Capital Management Inc boosted its holdings in shares of International Business Machines by 5.0% during the fourth quarter. Northwest Capital Management Inc now owns 1,230 shares of the technology company’s stock worth $201,000 after purchasing an additional 59 shares during the period. Finally, Financial Security Advisor Inc. boosted its holdings in shares of International Business Machines by 2.7% during the fourth quarter. Financial Security Advisor Inc. now owns 2,346 shares of the technology company’s stock worth $384,000 after purchasing an additional 61 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. BNP Paribas assumed coverage on shares of International Business Machines in a report on Thursday. They set an “underperform” rating and a $145.00 target price for the company. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Wedbush boosted their price target on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $190.00 price target on shares of International Business Machines in a research report on Wednesday, April 17th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, International Business Machines has an average rating of “Hold” and an average price target of $181.29.

International Business Machines Stock Up 0.6 %

Shares of International Business Machines stock traded up $1.02 during trading on Friday, hitting $165.71. The company’s stock had a trading volume of 3,400,405 shares, compared to its average volume of 4,768,629. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. The company has a fifty day simple moving average of $185.75 and a two-hundred day simple moving average of $171.44. The company has a market capitalization of $152.22 billion, a PE ratio of 18.77, a P/E/G ratio of 4.08 and a beta of 0.74. International Business Machines Co. has a 52 week low of $120.55 and a 52 week high of $199.18.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business earned $1.36 EPS. Equities research analysts predict that International Business Machines Co. will post 9.92 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a dividend of $1.67 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is currently 75.20%.

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.