Legacy Wealth Asset Management LLC Has $1.32 Million Holdings in International Business Machines Co. (NYSE:IBM)

Legacy Wealth Asset Management LLC trimmed its stake in International Business Machines Co. (NYSE:IBM) by 3.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,009 shares of the technology company’s stock after selling 229 shares during the period. Legacy Wealth Asset Management LLC’s holdings in International Business Machines were worth $1,321,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of IBM. Hazlett Burt & Watson Inc. grew its position 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 last quarter. Hara Capital LLC bought a new stake in International Business Machines in the third quarter valued at approximately $29,000. Avondale Wealth Management increased its position in International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares during the period. Modus Advisors LLC bought a new position in International Business Machines during the 4th quarter worth approximately $40,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of International Business Machines in the 3rd quarter worth approximately $43,000. 58.96% of the stock is owned by institutional investors.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on IBM shares. Jefferies Financial Group increased their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Bank of America lifted their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Sanford C. Bernstein upped their target price 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. Morgan Stanley lifted their target price on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Finally, BMO Capital Markets increased their price target on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus price target of $215.81.

International Business Machines Stock Performance

IBM opened at $222.54 on Friday. The company has a market cap of $205.77 billion, a price-to-earnings ratio of 32.39, a PEG ratio of 4.71 and a beta of 0.74. The company’s fifty day moving average price is $222.47 and its two-hundred day moving average price is $210.23. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $239.35. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 EPS. On average, analysts expect that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared 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 of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.00%. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

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.