Ibex Wealth Advisors Invests $14.11 Million in International Business Machines Co. (NYSE:IBM)

Ibex Wealth Advisors purchased a new position in shares of International Business Machines Co. (NYSE:IBM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 64,199 shares of the technology company’s stock, valued at approximately $14,113,000. International Business Machines accounts for approximately 1.7% of Ibex Wealth Advisors’ investment portfolio, making the stock its 9th biggest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Allen Capital Group LLC increased its stake in International Business Machines by 3.5% in the 4th quarter. Allen Capital Group LLC now owns 23,017 shares of the technology company’s stock valued at $5,060,000 after purchasing an additional 771 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in International Business Machines by 0.9% in the fourth quarter. Hantz Financial Services Inc. now owns 25,842 shares of the technology company’s stock valued at $5,681,000 after purchasing an additional 220 shares during the last quarter. McKinley Carter Wealth Services Inc. acquired a new position in shares of International Business Machines during the 4th quarter worth $208,000. Twelve Points Wealth Management LLC boosted its position in shares of International Business Machines by 9.9% in the 4th quarter. Twelve Points Wealth Management LLC now owns 13,500 shares of the technology company’s stock worth $2,968,000 after buying an additional 1,221 shares in the last quarter. Finally, Foster Group Inc. grew its stake in International Business Machines by 2.4% in the 4th quarter. Foster Group Inc. now owns 2,025 shares of the technology company’s stock valued at $445,000 after acquiring an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Transactions 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 shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.07% of the company’s stock.

International Business Machines Trading Up 0.1 %

Shares of IBM traded up $0.26 during trading hours on Wednesday, hitting $225.92. The stock had a trading volume of 543,384 shares, compared to its average volume of 3,500,632. The company’s fifty day simple moving average is $224.95 and its 200 day simple moving average is $213.44. International Business Machines Co. has a 12-month low of $162.62 and a 12-month 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 $208.89 billion, a P/E ratio of 32.95, a P/E/G ratio of 4.78 and a beta of 0.74.

Wall Street Analysts Forecast Growth

IBM has been the topic of several recent research reports. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Morgan Stanley lowered their target price on International Business Machines from $222.00 to $217.00 and set an “equal weight” rating on the stock in a report on Tuesday. Bernstein Bank boosted their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Sanford C. Bernstein increased their price objective on 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. Finally, Bank of America boosted their target price on shares of International Business Machines from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $220.40.

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.