Broadway Wealth Solutions Inc. Buys Shares of 1,942 International Business Machines Co. (NYSE:IBM)

Broadway Wealth Solutions Inc. purchased a new stake in International Business Machines Co. (NYSE:IBM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,942 shares of the technology company’s stock, valued at approximately $427,000.

A number of other hedge funds also recently made changes to their positions in IBM. United Bank increased its holdings in shares of International Business Machines by 53.3% during the third quarter. United Bank now owns 5,628 shares of the technology company’s stock valued at $1,244,000 after purchasing an additional 1,956 shares during the period. Quest Partners LLC increased its stake in International Business Machines by 23,700.0% during the 3rd quarter. Quest Partners LLC now owns 238 shares of the technology company’s stock valued at $53,000 after buying an additional 237 shares during the period. FMR LLC raised its position in shares of International Business Machines by 6.0% during the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after buying an additional 294,276 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of International Business Machines in the 3rd quarter worth approximately $4,355,000. Finally, Providence Capital Advisors LLC boosted its holdings in shares of International Business Machines by 0.5% in the third quarter. Providence Capital Advisors LLC now owns 17,288 shares of the technology company’s stock valued at $3,822,000 after acquiring an additional 84 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on IBM shares. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Oppenheimer began coverage on International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price for the company. BMO Capital Markets lifted their price target on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Jefferies Financial Group upped their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, UBS Group lifted their target price on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Trading Down 1.6 %

IBM opened at $246.30 on Friday. The company has a market cap of $228.38 billion, a P/E ratio of 38.42, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company has a fifty day moving average price of $249.12 and a two-hundred day moving average price of $231.01. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. 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 issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating 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%. Analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

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 dated Monday, March 3rd. The stock was 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 of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.18% of the company’s stock.

International Business Machines Company 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.