International Business Machines Co. (NYSE:IBM) Shares Acquired by Forza Wealth Management LLC

Forza Wealth Management LLC grew its stake in International Business Machines Co. (NYSE:IBM) by 0.4% in the fourth quarter, Holdings Channel reports. The fund owned 13,153 shares of the technology company’s stock after purchasing an additional 47 shares during the period. International Business Machines accounts for about 1.3% of Forza Wealth Management LLC’s portfolio, making the stock its 23rd largest holding. Forza Wealth Management LLC’s holdings in International Business Machines were worth $2,891,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Hazlett Burt & Watson Inc. boosted 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 valued at $29,000 after buying an additional 116 shares during the period. Hara Capital LLC purchased a new position in shares of International Business Machines in the 3rd quarter valued at about $29,000. Avondale Wealth Management boosted its stake in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after buying an additional 56 shares during the period. Modus Advisors LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth about $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of International Business Machines during the 3rd quarter worth about $43,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Down 1.3 %

NYSE:IBM traded down $2.76 on Monday, reaching $216.99. The company’s stock had a trading volume of 1,597,886 shares, compared to its average volume of 2,899,129. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $239.35. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm has a market cap of $200.64 billion, a PE ratio of 31.59, a PEG ratio of 5.18 and a beta of 0.74. The business’s 50-day moving average price is $221.92 and its two-hundred day moving average price is $209.52.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 earnings per share. Equities research analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.08%. International Business Machines’s payout ratio is presently 97.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IBM shares. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Bernstein Bank lifted their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Stifel Nicolaus boosted their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group upped their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $214.88.

Insider Buying and Selling

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

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.