Palacios Wealth Management LLC Invests $999,000 in International Business Machines Co. (NYSE:IBM)

Palacios Wealth Management LLC bought a new position in International Business Machines Co. (NYSE:IBM) during the 4th quarter, Holdings Channel reports. The firm bought 4,513 shares of the technology company’s stock, valued at approximately $999,000. International Business Machines comprises approximately 1.1% of Palacios Wealth Management LLC’s portfolio, making the stock its 23rd biggest holding.

Several other institutional investors and hedge funds have also modified their holdings of IBM. International Assets Investment Management LLC boosted its holdings in shares of International Business Machines by 20,324.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after acquiring an additional 2,702,340 shares in the last quarter. Holocene Advisors LP acquired a new position in shares of International Business Machines in the 3rd quarter worth approximately $573,306,000. State Street Corp boosted its holdings in shares of International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after acquiring an additional 1,200,803 shares in the last quarter. KBC Group NV boosted its holdings in shares of International Business Machines by 90.4% in the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after acquiring an additional 800,930 shares in the last quarter. Finally, Strategic Financial Concepts LLC lifted its holdings in International Business Machines by 23,311.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock worth $153,262,000 after buying an additional 694,204 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IBM. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. Jefferies Financial Group upped their price objective on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Oppenheimer began coverage on International Business Machines in a report on Tuesday. They set an “outperform” rating and a $320.00 price objective on the stock. Bank of America upped their price objective on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, UBS Group upped their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $231.44.

International Business Machines Stock Up 1.3 %

NYSE:IBM opened at $259.07 on Friday. The firm has a market capitalization of $239.55 billion, a P/E ratio of 40.42, a P/E/G ratio of 5.57 and a beta of 0.76. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $265.72. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The stock’s fifty day simple moving average is $231.15 and its 200-day simple moving average is $218.49.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping 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 research analysts expect that International Business Machines Co. will post 10.75 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s payout ratio is presently 104.21%.

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.