International Business Machines Co. (NYSE:IBM) Shares Bought by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lifted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 0.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 84,239 shares of the technology company’s stock after buying an additional 231 shares during the period. Cullen Frost Bankers Inc.’s holdings in International Business Machines were worth $18,518,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in IBM. Compass Financial Services Inc acquired a new position in shares of International Business Machines during the 4th quarter worth approximately $26,000. Hara Capital LLC acquired a new position in shares of International Business Machines during the 3rd quarter worth approximately $29,000. Avondale Wealth Management raised its stake in shares of 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 buying an additional 56 shares during the period. Valued Wealth Advisors LLC raised its stake in shares of International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after buying an additional 90 shares during the period. Finally, Modus Advisors LLC acquired a new position in shares of International Business Machines during the 4th quarter worth approximately $40,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IBM has been the subject of several research analyst reports. Oppenheimer initiated coverage on International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price for the company. Sanford C. Bernstein boosted their price target on 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. Wedbush initiated coverage on International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating for the company. BMO Capital Markets boosted their price target on 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, Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average target price of $231.44.

Insider Buying and Selling

In other news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value 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. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.07% of the stock is currently owned by company insiders.

International Business Machines Stock Performance

NYSE IBM opened at $251.40 on Thursday. The stock has a market cap of $233.11 billion, a PE ratio of 39.22, a P/E/G ratio of 5.81 and a beta of 0.74. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $265.72. The stock has a fifty day simple moving average of $240.04 and a 200-day simple moving average of $225.58.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Equities analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current 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 paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.66%. International Business Machines’s dividend payout ratio is presently 104.21%.

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.