Centricity Wealth Management LLC Purchases Shares of 364 International Business Machines Co. (NYSE:IBM)

Centricity Wealth Management LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBM) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 364 shares of the technology company’s stock, valued at approximately $80,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. grew its position in International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after buying an additional 166 shares during the period. Blue Zone Wealth Advisors LLC acquired a new stake in shares of International Business Machines during the 4th quarter valued at about $242,000. Brady Martz Wealth Solutions LLC purchased a new position in shares of International Business Machines in the 4th quarter valued at about $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in International Business Machines in the 4th quarter worth about $373,000. Finally, Philip James Wealth Mangement LLC purchased a new position in International Business Machines during the third quarter worth approximately $5,117,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wedbush started coverage on International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating for the company. Bank of America lifted their price target on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Morgan Stanley upped their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Finally, UBS Group upped their price target 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, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $261.77 on Friday. The business’s 50 day moving average price is $235.27 and its 200 day moving average price is $221.81. The company has a market cap of $242.05 billion, a price-to-earnings ratio of 40.84, a PEG ratio of 5.80 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a one year low of $162.62 and a one year high of $265.72.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS 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%. On average, research analysts predict that International Business Machines Co. will post 10.77 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a $1.67 dividend. The ex-dividend date is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.55%. International Business Machines’s payout ratio is 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.