Independent Wealth Network Inc. Raises Stock Position in International Business Machines Co. (NYSE:IBM)

Independent Wealth Network Inc. raised its holdings in International Business Machines Co. (NYSE:IBM) by 22.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,337 shares of the technology company’s stock after purchasing an additional 244 shares during the quarter. Independent Wealth Network Inc.’s holdings in International Business Machines were worth $294,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its position in shares of International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after acquiring an additional 2,702,340 shares during the period. Holocene Advisors LP acquired a new stake in International Business Machines in the 3rd quarter valued at $573,306,000. State Street Corp increased its holdings in International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after acquiring an additional 1,200,803 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in International Business Machines by 587.1% during the third quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock valued at $134,262,000 after purchasing an additional 536,785 shares in the last quarter. Finally, KBC Group NV grew its position in shares of International Business Machines by 103.1% in the third quarter. KBC Group NV now owns 886,323 shares of the technology company’s stock valued at $195,948,000 after purchasing an additional 449,912 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of IBM stock opened at $225.63 on Friday. 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 $208.63 billion, a P/E ratio of 32.84, a P/E/G ratio of 4.80 and a beta of 0.74. The firm’s 50 day moving average price is $223.60 and its 200-day moving average price is $211.90. International Business Machines Co. has a one year low of $162.62 and a one year high of $239.35.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the prior year, the firm earned $2.20 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts predict that International Business Machines Co. will post 10.16 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of research reports. Sanford C. Bernstein raised their price target on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. BMO Capital Markets lifted their price target on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research note on Wednesday, October 2nd. Bernstein Bank lifted their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Finally, StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $220.73.

Insider Activity at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.07% of the company’s stock.

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.