Trexquant Investment LP Purchases New Stake in International Business Machines Co. (NYSE:IBM)

Trexquant Investment LP acquired a new position in International Business Machines Co. (NYSE:IBM) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 74,339 shares of the technology company’s stock, valued at approximately $16,342,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Blue Zone Wealth Advisors LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at about $242,000. Brady Martz Wealth Solutions LLC acquired a new position in International Business Machines in the fourth quarter valued at approximately $1,940,000. Tranquilli Financial Advisor LLC bought a new position in shares of International Business Machines during the fourth quarter valued at approximately $373,000. Truist Financial Corp raised its position in shares of International Business Machines by 6.5% during the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after purchasing an additional 49,591 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of International Business Machines by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after purchasing an additional 4,625 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 0.7 %

Shares of NYSE:IBM opened at $250.34 on Wednesday. The stock has a market capitalization of $232.13 billion, a price-to-earnings ratio of 39.05, a PEG ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $266.45. The company has a 50 day moving average price of $250.52 and a 200 day moving average price of $232.13. 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 earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction 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 owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on IBM shares. Oppenheimer assumed coverage on International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price on the stock. Jefferies Financial Group cut their price objective on shares of International Business Machines from $270.00 to $265.00 and set a “hold” rating on the stock in a research report on Monday. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Finally, Wedbush assumed coverage on International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and an average price target of $231.13.

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.