Wingate Wealth Advisors Inc. Takes $386,000 Position in International Business Machines Co. (NYSE:IBM)

Wingate Wealth Advisors Inc. bought a new position in International Business Machines Co. (NYSE:IBM) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,755 shares of the technology company’s stock, valued at approximately $386,000.

Several other hedge funds and other institutional investors have also bought and sold shares of IBM. Wagner Wealth Management LLC raised its position in International Business Machines by 3.6% in the 4th quarter. Wagner Wealth Management LLC now owns 11,190 shares of the technology company’s stock worth $2,460,000 after purchasing an additional 389 shares during the period. Canvas Wealth Advisors LLC increased its stake in shares of International Business Machines by 19.2% in the fourth quarter. Canvas Wealth Advisors LLC now owns 1,101 shares of the technology company’s stock worth $242,000 after buying an additional 177 shares during the period. Angeles Wealth Management LLC boosted its position in International Business Machines by 18.1% during the 4th quarter. Angeles Wealth Management LLC now owns 3,556 shares of the technology company’s stock valued at $782,000 after buying an additional 545 shares during the period. Stone Summit Wealth LLC grew its holdings in International Business Machines by 21.2% in the 4th quarter. Stone Summit Wealth LLC now owns 1,446 shares of the technology company’s stock worth $318,000 after acquiring an additional 253 shares during the last quarter. Finally, Wealthstar Advisors LLC bought a new stake in shares of International Business Machines in the fourth quarter worth about $694,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM stock opened at $252.31 on Monday. The stock has a market capitalization of $233.30 billion, a PE ratio of 39.36, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76. The stock’s 50 day simple moving average is $229.76 and its 200 day simple moving average is $217.15. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $265.72. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, research analysts forecast that International Business Machines Co. will post 10.75 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.65%. International Business Machines’s payout ratio is 104.21%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IBM. Morgan Stanley boosted their price target on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. UBS Group raised their target price on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. BMO Capital Markets upped their price target on 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. Bank of America raised their price objective on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Jefferies Financial Group increased their price target on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $225.53.

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.