International Business Machines Co. (NYSE:IBM) Shares Bought by NewEdge Wealth LLC

NewEdge Wealth LLC raised its stake in International Business Machines Co. (NYSE:IBM) by 64.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,330 shares of the technology company’s stock after purchasing an additional 3,667 shares during the period. NewEdge Wealth LLC’s holdings in International Business Machines were worth $1,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. Avion Wealth increased its holdings in shares of International Business Machines by 6.2% in the 4th quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after acquiring an additional 56 shares during the last quarter. Financial Security Advisor Inc. increased its holdings in shares of International Business Machines by 2.7% in the 4th quarter. Financial Security Advisor Inc. now owns 2,346 shares of the technology company’s stock valued at $384,000 after acquiring an additional 61 shares during the last quarter. Cornerstone Wealth Group LLC increased its holdings in shares of International Business Machines by 3.6% in the 4th quarter. Cornerstone Wealth Group LLC now owns 1,734 shares of the technology company’s stock valued at $284,000 after acquiring an additional 61 shares during the last quarter. Webster Bank N. A. grew its stake in International Business Machines by 0.9% during the 4th quarter. Webster Bank N. A. now owns 7,131 shares of the technology company’s stock worth $1,166,000 after buying an additional 62 shares during the last quarter. Finally, Thrive Wealth Management LLC grew its stake in International Business Machines by 0.9% during the 4th quarter. Thrive Wealth Management LLC now owns 7,311 shares of the technology company’s stock worth $1,196,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the topic of a number of research reports. Jefferies Financial Group initiated coverage on International Business Machines in a research note on Friday, January 5th. They set a “hold” rating and a $180.00 price target on the stock. Stifel Nicolaus raised their price target on International Business Machines from $144.00 to $183.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Evercore ISI upgraded 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. Royal Bank of Canada lifted their target price on International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Evercore upgraded 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 equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $178.08.

International Business Machines Stock Down 2.0 %

IBM opened at $182.27 on Monday. The business has a 50 day simple moving average of $188.66 and a 200-day simple moving average of $167.85. The stock has a market capitalization of $167.09 billion, a P/E ratio of 22.42, a P/E/G ratio of 3.57 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 company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93.

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

International Business Machines Announces Dividend

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

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.