Waterfront Wealth Inc. Grows Stock Holdings in International Business Machines Co. (NYSE:IBM)

Waterfront Wealth Inc. grew its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,393 shares of the technology company’s stock after purchasing an additional 46 shares during the quarter. Waterfront Wealth Inc.’s holdings in International Business Machines were worth $526,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp grew its holdings in 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 valued at $12,307,940,000 after buying an additional 1,200,803 shares during the period. FMR LLC boosted its position in shares of International Business Machines by 6.0% in the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after acquiring an additional 294,276 shares during the last quarter. Swiss National Bank grew its holdings in International Business Machines by 0.5% in the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after purchasing an additional 12,400 shares during the period. Holocene Advisors LP acquired a new position in International Business Machines during the third quarter worth approximately $573,306,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in International Business Machines by 1.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,473,421 shares of the technology company’s stock worth $546,824,000 after purchasing an additional 32,732 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IBM. JPMorgan Chase & Co. upped their price objective on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Morgan Stanley lifted their price objective on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Wedbush initiated coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating for the company. Finally, BMO Capital Markets raised their price target on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Two equities research 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Performance

Shares of IBM stock opened at $261.77 on Friday. The firm has a market capitalization of $242.05 billion, a P/E ratio of 40.84, a P/E/G ratio of 5.80 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 debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company’s fifty day moving average price is $235.27 and its two-hundred day moving average price is $221.81.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (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%. On average, research analysts anticipate that International Business Machines Co. will post 10.77 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. Shareholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.55%. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

About International Business Machines

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.