International Business Machines Co. (NYSE:IBM) Shares Bought by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC increased its position in shares of International Business Machines Co. (NYSE:IBM) by 1,802.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 346,664 shares of the technology company’s stock after buying an additional 328,445 shares during the period. International Business Machines accounts for approximately 6.4% of Wellington Shields Capital Management LLC’s investment portfolio, making the stock its 2nd biggest position. Wellington Shields Capital Management LLC’s holdings in International Business Machines were worth $76,207,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Compass Financial Services Inc acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $26,000. Vision Financial Markets LLC acquired a new stake in International Business Machines during the 4th quarter valued at $31,000. Avondale Wealth Management boosted its position in International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares during the period. Valued Wealth Advisors LLC increased its holdings in shares of International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after purchasing an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC bought a new position in shares of International Business Machines in the fourth quarter valued at about $35,000. 58.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on IBM. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Morgan Stanley upped their target price on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Wedbush initiated coverage on International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. lifted their target price on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $245.67 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company has a market cap of $227.80 billion, a PE ratio of 38.33, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company has a 50 day moving average of $243.72 and a 200-day moving average of $227.70. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $266.45.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, equities research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

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.