Fox Run Management L.L.C. Acquires New Holdings in International Business Machines Co. (NYSE:IBM)

Fox Run Management L.L.C. acquired a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,196 shares of the technology company’s stock, valued at approximately $2,461,000. International Business Machines accounts for approximately 0.4% of Fox Run Management L.L.C.’s holdings, making the stock its 6th biggest holding.

Other institutional investors also recently bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new position in International Business Machines in the fourth quarter worth $94,314,000. Knights of Columbus Asset Advisors LLC purchased a new position in International Business Machines in the fourth quarter worth $2,386,000. Umpqua Bank grew its holdings in International Business Machines by 9.3% in the fourth quarter. Umpqua Bank now owns 2,492 shares of the technology company’s stock worth $543,000 after purchasing an additional 211 shares during the last quarter. American Century Companies Inc. grew its holdings in International Business Machines by 9.4% in the fourth quarter. American Century Companies Inc. now owns 485,334 shares of the technology company’s stock worth $106,691,000 after purchasing an additional 41,683 shares during the last quarter. Finally, Plancorp LLC grew its holdings in International Business Machines by 1.2% in the fourth quarter. Plancorp LLC now owns 7,262 shares of the technology company’s stock worth $1,596,000 after purchasing an additional 84 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the topic of several analyst reports. Bank of America lifted their price target on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Oppenheimer assumed coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. Finally, Wedbush assumed coverage on shares of International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, International Business Machines currently has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Trading Up 0.2 %

Shares of International Business Machines stock opened at $243.75 on Friday. The firm has a 50-day simple moving average of $246.77 and a two-hundred day simple moving average of $229.71. The company has a market cap of $226.02 billion, a P/E ratio of 38.03, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $266.45. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, equities analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.74%. International Business Machines’s dividend payout ratio is currently 104.21%.

Insider Transactions at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

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.