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

Gitterman Wealth Management LLC grew its holdings in International Business Machines Co. (NYSE:IBM) by 11.5% during the 4th quarter, Holdings Channel reports. The firm owned 8,754 shares of the technology company’s stock after purchasing an additional 900 shares during the period. International Business Machines makes up approximately 0.8% of Gitterman Wealth Management LLC’s portfolio, making the stock its 10th biggest position. Gitterman Wealth Management LLC’s holdings in International Business Machines were worth $1,925,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Compass Financial Services Inc bought a new position in shares of International Business Machines in the 4th quarter valued at about $26,000. Vision Financial Markets LLC bought a new position in International Business Machines during the 4th quarter worth approximately $31,000. Avondale Wealth Management boosted its stake 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 acquiring an additional 56 shares during the last quarter. Valued Wealth Advisors LLC boosted its stake 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 acquiring an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC bought a new position in International Business Machines during the 4th quarter worth approximately $35,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

NYSE IBM opened at $248.15 on Friday. 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 Co. has a 12-month low of $162.62 and a 12-month high of $266.45. The company has a market capitalization of $230.10 billion, a PE ratio of 38.71, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The firm’s 50 day moving average is $244.23 and its 200-day moving average is $228.26.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Equities research 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 company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.69%. International Business Machines’s payout ratio is 104.21%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on IBM. The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday. 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. Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.