Luts & Greenleigh Group Inc. Makes New $201,000 Investment in International Business Machines Co. (NYSE:IBM)

Luts & Greenleigh Group Inc. acquired a new stake in International Business Machines Co. (NYSE:IBM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,227 shares of the technology company’s stock, valued at approximately $201,000.

Other institutional investors have also modified their holdings of the company. Kennedy Investment Group boosted its stake in shares of International Business Machines by 3.5% in the fourth quarter. Kennedy Investment Group now owns 3,114 shares of the technology company’s stock valued at $509,000 after purchasing an additional 106 shares during the period. Benedict Financial Advisors Inc. bought a new position in shares of International Business Machines in the 4th quarter worth about $224,000. Wealth Effects LLC lifted its position in shares of International Business Machines by 33.6% in the 4th quarter. Wealth Effects LLC now owns 12,192 shares of the technology company’s stock worth $1,994,000 after buying an additional 3,065 shares during the last quarter. Sutton Place Investors LLC lifted its position in shares of International Business Machines by 354.8% in the 4th quarter. Sutton Place Investors LLC now owns 6,941 shares of the technology company’s stock worth $1,135,000 after buying an additional 5,415 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in International Business Machines by 4.2% in the 4th quarter. Valeo Financial Advisors LLC now owns 14,640 shares of the technology company’s stock valued at $2,394,000 after purchasing an additional 590 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE IBM traded down $0.14 during trading on Thursday, reaching $185.90. The company’s stock had a trading volume of 2,848,458 shares, compared to its average volume of 4,897,733. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. The firm has a market capitalization of $170.42 billion, a price-to-earnings ratio of 22.81, a price-to-earnings-growth ratio of 3.72 and a beta of 0.70. 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 $188.75 and a 200 day moving average price of $167.13.

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

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were issued a $1.66 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.64 annualized dividend and a dividend yield of 3.57%. International Business Machines’s dividend payout ratio is currently 81.67%.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of recent analyst reports. Sanford C. Bernstein boosted their price target 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. Royal Bank of Canada lifted their target price on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. BMO Capital Markets raised their price target on shares of International Business Machines from $155.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. Societe Generale restated a “sell” rating and set a $143.00 price target on shares of International Business Machines in a report on Friday, January 5th. Finally, Evercore ISI upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $165.00 to $200.00 in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $176.85.

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.