Sound Income Strategies LLC Grows Stock Position in International Business Machines Co. (NYSE:IBM)

Sound Income Strategies LLC grew its position in shares of International Business Machines Co. (NYSE:IBM) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 116,631 shares of the technology company’s stock after buying an additional 4,984 shares during the period. International Business Machines accounts for 1.6% of Sound Income Strategies LLC’s investment portfolio, making the stock its 15th largest position. Sound Income Strategies LLC’s holdings in International Business Machines were worth $25,639,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IBM. Hazlett Burt & Watson Inc. lifted its holdings in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares during the last quarter. Hara Capital LLC bought a new stake in shares of International Business Machines in the third quarter valued at approximately $29,000. Avondale Wealth Management lifted its stake in shares of 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 buying an additional 56 shares in the last quarter. Oliver Lagore Vanvalin Investment Group bought a new position in International Business Machines in the 2nd quarter worth approximately $36,000. Finally, Modus Advisors LLC purchased a new position in International Business Machines in the 4th quarter valued at approximately $40,000. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IBM shares. Jefferies Financial Group raised their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Stifel Nicolaus raised their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets upped their price target on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Sanford C. Bernstein raised their price objective on shares of 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. Finally, Bernstein Bank boosted their price objective on shares of 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. Two equities 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $220.73.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’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 completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.07% of the stock is owned by insiders.

International Business Machines Trading Up 1.1 %

Shares of IBM stock opened at $225.63 on Friday. The business has a 50-day moving average price of $223.60 and a two-hundred day moving average price of $211.90. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $239.35. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a market cap of $208.63 billion, a P/E ratio of 32.84, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share 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 during the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the previous year, the company posted $2.20 EPS. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities analysts anticipate that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Announces Dividend

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. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.96%. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

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.