SlateStone Wealth LLC Boosts Position in International Business Machines Co. (NYSE:IBM)

SlateStone Wealth LLC raised its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,001 shares of the technology company’s stock after purchasing an additional 202 shares during the period. SlateStone Wealth LLC’s holdings in International Business Machines were worth $2,418,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Compass Financial Services Inc acquired a new stake in International Business Machines during the 4th quarter valued at approximately $26,000. Vision Financial Markets LLC purchased a new stake in International Business Machines in the 4th quarter worth $31,000. Avondale Wealth Management increased its holdings in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares in the last quarter. Valued Wealth Advisors LLC increased its holdings in International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after acquiring an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth $35,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in 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. BMO Capital Markets increased 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 report on Thursday, January 30th. Wedbush assumed coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. JPMorgan Chase & Co. upped their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, Jefferies Financial Group upped their target price 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 equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $231.44.

International Business Machines Trading Up 1.0 %

NYSE IBM opened at $248.15 on Friday. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $266.45. The company has a 50-day moving average of $244.23 and a 200-day moving average of $228.26. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company has a market cap of $230.10 billion, a P/E ratio of 38.71, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, equities analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

Insider Activity

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.