RNC Capital Management LLC Grows Position in International Business Machines Co. (NYSE:IBM)

RNC Capital Management LLC grew its position in International Business Machines Co. (NYSE:IBM) by 0.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 380,119 shares of the technology company’s stock after buying an additional 390 shares during the period. International Business Machines accounts for about 3.7% of RNC Capital Management LLC’s portfolio, making the stock its 2nd largest position. RNC Capital Management LLC’s holdings in International Business Machines were worth $62,169,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC raised its position in International Business Machines by 98,797.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,029,001 shares of the technology company’s stock worth $1,553,876,000 after buying an additional 11,017,849 shares during the last quarter. Norges Bank purchased a new position in International Business Machines during the 4th quarter worth approximately $876,014,000. Morgan Stanley increased its holdings in shares of International Business Machines by 22.8% during the 4th quarter. Morgan Stanley now owns 16,592,094 shares of the technology company’s stock valued at $2,337,660,000 after purchasing an additional 3,084,458 shares in the last quarter. BlackRock Inc. increased its holdings in shares of International Business Machines by 3.5% during the 2nd quarter. BlackRock Inc. now owns 74,044,855 shares of the technology company’s stock valued at $9,907,942,000 after purchasing an additional 2,483,682 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of International Business Machines by 35.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,460,023 shares of the technology company’s stock valued at $579,892,000 after purchasing an additional 1,163,790 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Up 1.2 %

Shares of IBM opened at $190.80 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. International Business Machines Co. has a 12-month low of $120.55 and a 12-month high of $199.18. The firm has a 50-day moving average price of $186.30 and a 200 day moving average price of $163.98. The firm has a market capitalization of $174.91 billion, a P/E ratio of 23.47, a P/E/G ratio of 3.69 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.78 by $0.09. The firm had revenue of $17.38 billion during the quarter, compared to analyst estimates of $17.29 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. International Business Machines’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.60 earnings per share. Sell-side analysts forecast that International Business Machines Co. will post 10.07 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were paid a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a yield of 3.48%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is presently 81.67%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of International Business Machines from $144.00 to $183.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Evercore ISI upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Sanford C. Bernstein upped their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Evercore upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Finally, Societe Generale restated a “sell” rating and set a $143.00 price objective on shares of International Business Machines in a research report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $176.85.

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.