Biondo Investment Advisors LLC Acquires 657 Shares of International Business Machines Co. (NYSE:IBM)

Biondo Investment Advisors LLC boosted its holdings in International Business Machines Co. (NYSE:IBM) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,352 shares of the technology company’s stock after purchasing an additional 657 shares during the period. International Business Machines makes up 1.6% of Biondo Investment Advisors LLC’s portfolio, making the stock its 20th largest position. Biondo Investment Advisors LLC’s holdings in International Business Machines were worth $11,948,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Compass Financial Services Inc purchased a new stake in International Business Machines during the 4th quarter valued at about $26,000. Vision Financial Markets LLC purchased a new stake in shares of International Business Machines during the fourth quarter valued at approximately $31,000. Avondale Wealth Management grew its holdings in shares of International Business Machines by 56.0% in 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 last quarter. Valued Wealth Advisors LLC increased its stake 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 worth $35,000 after buying an additional 90 shares during the period. Finally, Rialto Wealth Management LLC purchased a new stake in International Business Machines during the 4th quarter valued at $35,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Down 1.0 %

Shares of NYSE:IBM opened at $243.83 on Friday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45. The stock has a market capitalization of $226.10 billion, a price-to-earnings ratio of 38.04, a PEG ratio of 5.81 and a beta of 0.74. The stock has a fifty day simple moving average of $249.51 and a two-hundred day simple moving average of $231.29. 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 (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share 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 issued a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.74%. International Business Machines’s payout ratio is currently 104.21%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the business’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 completion of the transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on IBM shares. Wedbush began coverage on shares of International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating for the company. Sanford C. Bernstein upped their price target on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Finally, BMO Capital Markets lifted their price target on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $231.44.

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.