Flagship Wealth Advisors LLC Acquires New Stake in International Business Machines Co. (NYSE:IBM)

Flagship Wealth Advisors LLC acquired a new stake in International Business Machines Co. (NYSE:IBM) during the 4th quarter, HoldingsChannel reports. The firm acquired 2,260 shares of the technology company’s stock, valued at approximately $497,000.

Several other institutional investors have also bought and sold shares of IBM. Raymond James Financial Inc. purchased a new position in International Business Machines in the fourth quarter valued at approximately $592,746,000. Holocene Advisors LP purchased a new position in International Business Machines in the third quarter valued at approximately $573,306,000. State Street Corp lifted its stake in International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. KBC Group NV raised its holdings in International Business Machines by 90.4% during the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock valued at $370,909,000 after acquiring an additional 800,930 shares during the period. Finally, Strategic Financial Concepts LLC raised 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 valued at $153,262,000 after acquiring an additional 694,204 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 1.0 %

Shares of NYSE:IBM opened at $248.15 on Monday. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45. The firm has a fifty day moving average of $244.23 and a 200 day moving average of $228.47. The firm 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 company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) 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, research analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.69%. International Business Machines’s payout ratio is 104.21%.

Analysts Set New Price Targets

IBM has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Wedbush initiated coverage on shares of International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating on the stock. Bank of America boosted their target price on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Oppenheimer initiated coverage on shares of International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price on the stock. Finally, Morgan Stanley boosted their target price on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average price target of $231.44.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.07% of the company’s stock.

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.