RKL Wealth Management LLC Acquires 3,686 Shares of International Business Machines Co. (NYSE:IBM)

RKL Wealth Management LLC grew its holdings in International Business Machines Co. (NYSE:IBM) by 36.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,821 shares of the technology company’s stock after purchasing an additional 3,686 shares during the quarter. RKL Wealth Management LLC’s holdings in International Business Machines were worth $3,038,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. JBR Co Financial Management Inc raised its position in shares of International Business Machines by 0.6% in the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock valued at $1,405,000 after acquiring an additional 40 shares during the period. Schechter Investment Advisors LLC raised its position in shares of International Business Machines by 0.7% in the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock valued at $1,396,000 after acquiring an additional 43 shares during the period. Callan Capital LLC raised its position in shares of International Business Machines by 2.4% in the 4th quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock valued at $411,000 after acquiring an additional 44 shares during the period. Marks Group Wealth Management Inc raised its position in shares of International Business Machines by 0.4% in the 4th quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock valued at $2,292,000 after acquiring an additional 45 shares during the period. Finally, First Affirmative Financial Network raised its position in shares of International Business Machines by 1.5% in the 4th quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company’s stock valued at $687,000 after acquiring an additional 46 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM opened at $261.67 on Friday. The stock has a market capitalization of $242.63 billion, a P/E ratio of 40.82, a P/E/G ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $265.72. The company has a 50 day moving average of $241.29 and a 200-day moving average of $226.20. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, equities research analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal 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 paid a $1.67 dividend. The ex-dividend date is Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.55%. International Business Machines’s dividend payout ratio is presently 104.21%.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IBM. JPMorgan Chase & Co. increased their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Morgan Stanley increased 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. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Jefferies Financial Group raised their target price on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, UBS Group raised their target price on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $231.44.

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.