Commonwealth Financial Services LLC Grows Stock Holdings in International Business Machines Co. (NYSE:IBM)

Commonwealth Financial Services LLC increased its position in shares of International Business Machines Co. (NYSE:IBM) by 11.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,016 shares of the technology company’s stock after acquiring an additional 202 shares during the period. Commonwealth Financial Services LLC’s holdings in International Business Machines were worth $443,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IBM. Hazlett Burt & Watson Inc. boosted its holdings in International Business Machines by 1,054.5% in 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 period. Hara Capital LLC acquired a new position in shares of International Business Machines during the 3rd quarter worth about $29,000. Avondale Wealth Management boosted its holdings in International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares in the last quarter. Valued Wealth Advisors LLC lifted its position in shares of International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after buying an additional 90 shares during the last quarter. Finally, Modus Advisors LLC acquired a new position in International Business Machines in the fourth quarter valued at $40,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IBM. Wedbush assumed coverage on shares of International Business Machines in a report on Monday. They issued an “outperform” rating on the stock. Sanford C. Bernstein lifted their target price on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. BMO Capital Markets boosted their price target on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Stifel Nicolaus raised their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group boosted their target price on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $225.53.

International Business Machines Stock Up 2.0 %

Shares of NYSE:IBM opened at $260.84 on Tuesday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $262.06. The stock’s 50-day moving average price is $226.61 and its two-hundred day moving average price is $214.76. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The firm has a market cap of $241.19 billion, a price-to-earnings ratio of 40.69, a PEG ratio of 5.63 and a beta of 0.76.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, research analysts forecast that International Business Machines Co. will post 10.73 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Monday, February 10th. International Business Machines’s payout ratio is currently 104.21%.

Insider Transactions at International Business Machines

In other 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 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 sale was disclosed in a 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 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.