Rafferty Asset Management LLC Invests $5,081,000 in International Business Machines Corp. (IBM)

Rafferty Asset Management LLC purchased a new stake in shares of International Business Machines Corp. (NYSE:IBM) during the fourth quarter, according to its most recent filing with the SEC. The institutional investor purchased 30,610 shares of the technology company’s stock, valued at approximately $5,081,000.

A number of other large investors have also made changes to their positions in IBM. Gyroscope Capital Management Group LLC raised its stake in shares of International Business Machines Corp. by 1.3% in the fourth quarter. Gyroscope Capital Management Group LLC now owns 6,698 shares of the technology company’s stock valued at $1,112,000 after buying an additional 84 shares during the period. Brown Advisory Inc. raised its stake in shares of International Business Machines Corp. by 1.8% in the fourth quarter. Brown Advisory Inc. now owns 314,843 shares of the technology company’s stock valued at $52,260,000 after buying an additional 5,625 shares during the period. Sii Investments Inc. WI raised its stake in shares of International Business Machines Corp. by 2.5% in the fourth quarter. Sii Investments Inc. WI now owns 24,733 shares of the technology company’s stock valued at $4,098,000 after buying an additional 615 shares during the period. Good Life Advisors LLC acquired a new stake in shares of International Business Machines Corp. during the fourth quarter valued at about $220,000. Finally, Asset Management One Co. Ltd. raised its stake in shares of International Business Machines Corp. by 1,629.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,573,373 shares of the technology company’s stock valued at $261,234,000 after buying an additional 1,482,372 shares during the period. 58.65% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for International Business Machines Corp. (NYSE:IBM)

Shares of International Business Machines Corp. (NYSE:IBM) opened at 175.70 on Tuesday. The company has a market capitalization of $165.72 billion, a PE ratio of 14.19 and a beta of 0.96. The firm’s 50-day moving average price is $178.41 and its 200 day moving average price is $165.09. International Business Machines Corp. has a one year low of $142.50 and a one year high of $182.79.

International Business Machines Corp. (NYSE:IBM) last posted its quarterly earnings data on Thursday, January 19th. The technology company reported $5.01 earnings per share for the quarter, topping the consensus estimate of $4.88 by $0.13. The firm had revenue of $21.77 billion for the quarter, compared to analysts’ expectations of $21.69 billion. International Business Machines Corp. had a return on equity of 78.32% and a net margin of 14.85%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $4.84 EPS. Analysts anticipate that International Business Machines Corp. will post $13.79 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Friday, February 10th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Wednesday, February 8th. International Business Machines Corp.’s payout ratio is 45.16%.

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Several brokerages have issued reports on IBM. Morgan Stanley boosted their price target on shares of International Business Machines Corp. from $187.00 to $212.00 and gave the company an “overweight” rating in a report on Thursday, March 16th. Cantor Fitzgerald reissued a “neutral” rating and issued a $166.00 price target on shares of International Business Machines Corp. in a report on Saturday, March 11th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of International Business Machines Corp. in a report on Wednesday, March 8th. Cowen and Company reissued an “underperform” rating and issued a $125.00 price target on shares of International Business Machines Corp. in a report on Wednesday, March 8th. Finally, Wells Fargo & Co reissued a “market perform” rating and issued a $185.00 price target (up previously from $165.00) on shares of International Business Machines Corp. in a report on Wednesday, March 8th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $168.94.

In other International Business Machines Corp. news, insider James J. Kavanaugh sold 559 shares of the stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $178.31, for a total transaction of $99,675.29. Following the transaction, the insider now owns 29,856 shares in the company, valued at approximately $5,323,623.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Diane J. Gherson sold 5,000 shares of the stock in a transaction on Monday, February 13th. The stock was sold at an average price of $179.18, for a total value of $895,900.00. Following the transaction, the insider now owns 20,952 shares in the company, valued at approximately $3,754,179.36. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

International Business Machines Corp. Company Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Global Technology Services (GTS), Global Business Services (GBS), Software, Systems Hardware and Global Financing. The Company’s GTS segment offers services, including strategic outsourcing, integrated technology services, cloud and technology support services (maintenance services).

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