Cultivar Capital Inc. Invests $761,000 in International Business Machines Co. (NYSE:IBM)

Cultivar Capital Inc. purchased a new stake in International Business Machines Co. (NYSE:IBM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,653 shares of the technology company’s stock, valued at approximately $761,000. International Business Machines accounts for about 0.7% of Cultivar Capital Inc.’s holdings, making the stock its 13th largest holding.

Several other hedge funds have also recently bought and sold shares of the business. Smith Anglin Financial LLC purchased a new position in International Business Machines in the fourth quarter valued at approximately $1,697,000. Schechter Investment Advisors LLC raised its stake in shares of International Business Machines by 2.8% during the fourth quarter. Schechter Investment Advisors LLC now owns 5,573 shares of the technology company’s stock valued at $911,000 after purchasing an additional 150 shares during the period. Sandy Cove Advisors LLC raised its stake in shares of International Business Machines by 13.3% during the fourth quarter. Sandy Cove Advisors LLC now owns 3,009 shares of the technology company’s stock valued at $492,000 after purchasing an additional 353 shares during the period. Tectonic Advisors LLC raised its stake in shares of International Business Machines by 4.4% during the fourth quarter. Tectonic Advisors LLC now owns 37,137 shares of the technology company’s stock valued at $6,074,000 after purchasing an additional 1,566 shares during the period. Finally, Bar Harbor Wealth Management raised its stake in shares of International Business Machines by 24.0% during the fourth quarter. Bar Harbor Wealth Management now owns 70,628 shares of the technology company’s stock valued at $11,551,000 after purchasing an additional 13,687 shares during the period. Hedge funds and other institutional investors own 56.16% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE IBM traded down $0.29 during midday trading on Tuesday, reaching $188.50. 4,225,410 shares of the company traded hands, compared to its average volume of 5,273,235. International Business Machines Co. has a 52 week low of $120.55 and a 52 week high of $199.18. The stock has a 50-day moving average price of $185.87 and a 200 day moving average price of $163.70. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93. The company has a market cap of $172.81 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 3.74 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $17.38 billion for the quarter, compared to analysts’ expectations of $17.29 billion. During the same period in the previous year, the business earned $3.60 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. Sell-side analysts anticipate that International Business Machines Co. will post 10.07 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were given a $1.66 dividend. This represents a $6.64 annualized dividend and a yield of 3.52%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is presently 81.67%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on IBM shares. BMO Capital Markets lifted their price objective on shares of International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, January 25th. Evercore ISI raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Sanford C. Bernstein raised 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. Stifel Nicolaus lifted their price objective on shares of International Business Machines from $144.00 to $183.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Finally, Bank of America lifted their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.