Destination Wealth Management Purchases 1,421 Shares of International Business Machines Co. (NYSE:IBM)

Destination Wealth Management increased its position in shares of International Business Machines Co. (NYSE:IBM) by 61.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,720 shares of the technology company’s stock after acquiring an additional 1,421 shares during the quarter. Destination Wealth Management’s holdings in International Business Machines were worth $818,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Compass Financial Services Inc acquired a new stake in International Business Machines during the 4th quarter worth approximately $26,000. Hara Capital LLC acquired a new stake in International Business Machines during the 3rd quarter worth approximately $29,000. Vision Financial Markets LLC acquired a new stake in International Business Machines during the 4th quarter worth approximately $31,000. Avondale Wealth Management raised its holdings in International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares during the period. Finally, Valued Wealth Advisors LLC raised 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 worth $35,000 after buying an additional 90 shares during the period. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on IBM shares. Morgan Stanley raised their target price 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. Wedbush started coverage on shares of International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. UBS Group boosted 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. Sanford C. Bernstein lifted their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $231.44.

Insider Activity at International Business Machines

In related 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 completion of the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is currently owned by insiders.

International Business Machines Price Performance

Shares of IBM opened at $248.54 on Friday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $265.72. The business’s fifty day moving average is $240.52 and its 200 day moving average is $225.74. 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 has a market cap of $230.47 billion, a P/E ratio of 38.77, 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%. Sell-side analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given 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 is Monday, February 10th. International Business Machines’s payout ratio is currently 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.