RNC Capital Management LLC Acquires 390 Shares of International Business Machines Co. (NYSE:IBM)

RNC Capital Management LLC raised its holdings in International Business Machines Co. (NYSE:IBM) by 0.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 380,119 shares of the technology company’s stock after buying an additional 390 shares during the quarter. International Business Machines accounts for about 3.7% of RNC Capital Management LLC’s investment 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 quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC bought a new stake in shares of International Business Machines in the 2nd quarter worth approximately $28,000. Live Oak Investment Partners bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $30,000. Briaud Financial Planning Inc bought a new stake in shares of International Business Machines in the 3rd quarter worth approximately $31,000. Stone House Investment Management LLC lifted its position in shares of International Business Machines by 971.4% during the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after buying an additional 204 shares during the period. Finally, Financial Gravity Asset Management Inc. lifted its position in shares of International Business Machines by 67.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after buying an additional 91 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on IBM shares. Jefferies Financial Group started coverage on International Business Machines in a research report on Friday, January 5th. They set a “hold” rating and a $180.00 target price for the company. Royal Bank of Canada raised their target price on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Societe Generale restated a “sell” rating and set a $143.00 target price on shares of International Business Machines in a research report on Friday, January 5th. Stifel Nicolaus raised their target price on International Business Machines from $144.00 to $183.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Finally, Evercore ISI upgraded International Business Machines from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $165.00 to $200.00 in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus target price of $176.85.

International Business Machines Stock Performance

IBM stock opened at $190.80 on Thursday. The business’s 50-day moving average price is $186.30 and its two-hundred day moving average price is $163.98. 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 cap of $174.91 billion, a PE ratio of 23.47, a P/E/G ratio of 3.69 and a beta of 0.70. International Business Machines Co. has a 1-year low of $120.55 and a 1-year high of $199.18.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 24th. The technology company reported $3.87 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.09. The firm had revenue of $17.38 billion for the quarter, compared to analyst estimates of $17.29 billion. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.60 earnings per share. As a group, research analysts forecast that International Business Machines Co. will post 10.07 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. Stockholders of record on Friday, February 9th were issued a $1.66 dividend. The ex-dividend date was Thursday, February 8th. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.48%. International Business Machines’s dividend payout ratio (DPR) is 81.67%.

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.