Jennison Associates LLC Acquires 317,079 Shares of International Business Machines Co. (NYSE:IBM)

Jennison Associates LLC raised its holdings in shares of International Business Machines Co. (NYSE:IBM) by 983.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 349,312 shares of the technology company’s stock after buying an additional 317,079 shares during the quarter. Jennison Associates LLC’s holdings in International Business Machines were worth $57,130,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Vontobel Holding Ltd. grew its stake in International Business Machines by 20.3% in the 4th quarter. Vontobel Holding Ltd. now owns 477,193 shares of the technology company’s stock worth $78,045,000 after acquiring an additional 80,474 shares in the last quarter. Natixis Advisors L.P. grew its stake 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 acquiring an additional 57,170 shares in the last quarter. Herold Advisors Inc. grew its stake in International Business Machines by 3.2% in the 3rd quarter. Herold Advisors Inc. now owns 21,880 shares of the technology company’s stock worth $3,070,000 after acquiring an additional 688 shares in the last quarter. Tsfg LLC grew its stake in International Business Machines by 40.5% in the 4th quarter. Tsfg LLC now owns 378 shares of the technology company’s stock worth $62,000 after acquiring an additional 109 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. bought a new position in International Business Machines in the 3rd quarter worth about $661,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.2 %

IBM stock opened at $182.19 on Wednesday. The firm has a market cap of $167.02 billion, a PE ratio of 22.41, a P/E/G ratio of 3.57 and a beta of 0.70. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.93 and a current ratio of 0.96. The firm’s fifty day moving average is $188.35 and its 200 day moving average is $169.88. International Business Machines Co. has a one year low of $120.55 and a one year high of $199.18.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, beating the consensus estimate of $3.78 by $0.09. The company had revenue of $17.38 billion for the quarter, compared to analyst estimates of $17.29 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the business earned $3.60 earnings per share. On average, research analysts forecast that International Business Machines Co. will post 10.04 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were issued a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a yield of 3.64%. The ex-dividend date was Thursday, February 8th. International Business Machines’s payout ratio is 81.67%.

Analyst Ratings Changes

A number of brokerages have commented on IBM. Sanford C. Bernstein upped their target price on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. Bank of America upped their price target on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. BMO Capital Markets upped 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 research report on Thursday, January 25th. UBS Group upped their price target on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research report on Monday. Finally, Jefferies Financial Group lowered their price target on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $177.23.

International Business Machines 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.