Prentice Wealth Management LLC Raises Stock Position in International Business Machines Co. (NYSE:IBM)

Prentice Wealth Management LLC lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,046 shares of the technology company’s stock after acquiring an additional 53 shares during the quarter. Prentice Wealth Management LLC’s holdings in International Business Machines were worth $1,109,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of IBM. Compass Financial Services Inc acquired a new stake in International Business Machines in the fourth quarter valued at $26,000. Hazlett Burt & Watson Inc. raised its stake in shares of International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares during the last quarter. Hara Capital LLC purchased a new stake in shares of International Business Machines in the 3rd quarter worth about $29,000. Avondale Wealth Management grew its stake in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares during the last quarter. Finally, Valued Wealth Advisors LLC increased its holdings in International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM opened at $261.77 on Friday. The company has a market capitalization of $242.05 billion, a P/E ratio of 40.84, a PEG ratio of 5.80 and a beta of 0.76. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $265.72. The company has a 50-day moving average of $235.27 and a 200-day moving average of $221.81. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (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%. Equities analysts expect that International Business Machines Co. will post 10.77 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders 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 2.55%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IBM. Jefferies Financial Group upped their price target on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. BMO Capital Markets increased their target price on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Oppenheimer began coverage on International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Monday, January 27th. Finally, Morgan Stanley lifted their price target on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines 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.