HB Wealth Management LLC Increases Stock Position in International Business Machines Co. (NYSE:IBM)

HB Wealth Management LLC lifted its stake in International Business Machines Co. (NYSE:IBM) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,873 shares of the technology company’s stock after purchasing an additional 1,719 shares during the period. HB Wealth Management LLC’s holdings in International Business Machines were worth $15,360,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of IBM. Hazlett Burt & Watson Inc. increased its stake in shares of International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC bought a new stake in International Business Machines during the 3rd quarter valued at about $29,000. Avondale Wealth Management increased its stake in International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares in the last quarter. Modus Advisors LLC bought a new stake in International Business Machines during the 4th quarter valued at about $40,000. Finally, Capital Performance Advisors LLP bought a new stake in International Business Machines during the 3rd quarter valued at about $43,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IBM. The Goldman Sachs Group raised their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. BMO Capital Markets lifted their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Bank of America lifted their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $215.81.

International Business Machines Price Performance

Shares of International Business Machines stock traded up $2.07 on Friday, hitting $224.73. 5,481,686 shares of the company traded hands, compared to its average volume of 2,994,162. The stock has a market capitalization of $207.80 billion, a P/E ratio of 32.71, a price-to-earnings-growth ratio of 4.71 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $239.35. The business has a 50-day simple moving average of $222.65 and a 200 day simple moving average of $210.31.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.20 earnings per share. Research analysts expect that International Business Machines Co. will post 10.16 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

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.