Del Sette Capital Management LLC Buys New Shares in International Business Machines Co. (NYSE:IBM)

Del Sette Capital Management LLC purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, HoldingsChannel reports. The firm purchased 11,470 shares of the technology company’s stock, valued at approximately $1,876,000. International Business Machines accounts for about 1.6% of Del Sette Capital Management LLC’s holdings, making the stock its 15th biggest holding.

A number of other hedge funds have also modified their holdings of the company. Vontobel Holding Ltd. increased its position in shares of International Business Machines by 20.3% in the fourth quarter. Vontobel Holding Ltd. now owns 477,193 shares of the technology company’s stock valued at $78,045,000 after buying an additional 80,474 shares in the last quarter. Natixis Advisors L.P. boosted its holdings in International Business Machines by 18.1% in the 3rd quarter. Natixis Advisors L.P. now owns 372,307 shares of the technology company’s stock worth $52,235,000 after buying an additional 57,170 shares during the last quarter. Herold Advisors Inc. increased its stake in International Business Machines by 3.2% during the 3rd quarter. Herold Advisors Inc. now owns 21,880 shares of the technology company’s stock worth $3,070,000 after buying an additional 688 shares in the last quarter. Tsfg LLC raised its holdings in shares of International Business Machines by 40.5% during the fourth quarter. Tsfg LLC now owns 378 shares of the technology company’s stock valued at $62,000 after acquiring an additional 109 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. purchased a new position in shares of International Business Machines in the third quarter valued at approximately $661,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Down 1.1 %

IBM traded down $1.78 on Friday, hitting $167.13. 8,983,796 shares of the company were exchanged, compared to its average volume of 3,906,041. The firm has a 50-day moving average price of $187.60 and a two-hundred day moving average price of $170.53. The company has a current ratio of 1.13, a quick ratio of 0.93 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a twelve month low of $120.55 and a twelve month high of $199.18. The company has a market cap of $153.21 billion, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same period last year, the firm earned $1.36 earnings per share. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. On average, equities analysts predict that International Business Machines Co. will post 9.99 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were given a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is 75.20%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IBM. BMO Capital Markets dropped their price objective on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research note on Thursday. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Jefferies Financial Group dropped their target price on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Morgan Stanley reduced their price target on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $184.08.

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.