Signet Financial Management LLC Purchases 216 Shares of International Business Machines Co. (NYSE:IBM)

Signet Financial Management LLC grew its holdings in International Business Machines Co. (NYSE:IBM) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,261 shares of the technology company’s stock after purchasing an additional 216 shares during the period. Signet Financial Management LLC’s holdings in International Business Machines were worth $2,475,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of IBM. Peddock Capital Advisors LLC increased its holdings in International Business Machines by 0.8% in the 4th quarter. Peddock Capital Advisors LLC now owns 10,326 shares of the technology company’s stock worth $2,270,000 after buying an additional 86 shares in the last quarter. Pallas Capital Advisors LLC boosted its holdings in shares of International Business Machines by 3.3% during the 4th quarter. Pallas Capital Advisors LLC now owns 4,763 shares of the technology company’s stock valued at $1,047,000 after acquiring an additional 153 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in shares of International Business Machines by 138.0% in the fourth quarter. Miracle Mile Advisors LLC now owns 3,730 shares of the technology company’s stock worth $820,000 after acquiring an additional 2,163 shares during the period. Horizon Wealth Management LLC raised its holdings in shares of International Business Machines by 9.4% during the fourth quarter. Horizon Wealth Management LLC now owns 2,526 shares of the technology company’s stock valued at $555,000 after purchasing an additional 217 shares during the last quarter. Finally, Elevated Capital Advisors LLC lifted its position in International Business Machines by 14.0% during the fourth quarter. Elevated Capital Advisors LLC now owns 5,845 shares of the technology company’s stock valued at $1,285,000 after purchasing an additional 720 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM stock traded down $2.36 during mid-day trading on Monday, hitting $217.39. The company had a trading volume of 3,710,151 shares, compared to its average volume of 3,214,172. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The stock’s 50 day moving average price is $221.92 and its 200-day moving average price is $209.52. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $239.35. The company has a market capitalization of $201.01 billion, a P/E ratio of 31.64, a P/E/G ratio of 5.18 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter last year, the business posted $2.20 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities research analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.07%. International Business Machines’s dividend payout ratio is currently 97.23%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on IBM shares. Bernstein Bank upped their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. Finally, Bank of America lifted their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $214.88.

Insider Activity at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.07% of the stock is currently owned by insiders.

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.