SevenBridge Financial Group LLC Increases Position in International Business Machines Co. (NYSE:IBM)

SevenBridge Financial Group LLC lifted its holdings in International Business Machines Co. (NYSE:IBM) by 7.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 18,881 shares of the technology company’s stock after purchasing an additional 1,320 shares during the period. SevenBridge Financial Group LLC’s holdings in International Business Machines were worth $4,151,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Zone Wealth Advisors LLC purchased a new stake in shares of International Business Machines during the fourth quarter valued at $242,000. Brady Martz Wealth Solutions LLC purchased a new stake in International Business Machines in the 4th quarter valued at about $1,940,000. Tranquilli Financial Advisor LLC bought a new position in International Business Machines in the 4th quarter worth about $373,000. Truist Financial Corp increased its position in shares of International Business Machines by 6.5% during the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after acquiring an additional 49,591 shares during the period. Finally, Nordea Investment Management AB raised its stake in shares of International Business Machines by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock valued at $16,615,000 after acquiring an additional 4,625 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $250.34 on Wednesday. The company has a 50 day moving average price of $250.52 and a 200 day moving average price of $232.13. The firm has a market capitalization of $232.13 billion, a P/E ratio of 39.05, a PEG ratio of 5.81 and a beta of 0.74. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45.

International Business Machines (NYSE:IBM) last posted 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 net margin of 9.60% and a return on equity of 38.99%. Sell-side analysts expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Analyst Upgrades and Downgrades

Several research analysts have commented on IBM shares. Morgan Stanley raised their price objective on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Bank of America raised their price target on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Jefferies Financial Group lowered their price objective on shares of International Business Machines from $270.00 to $265.00 and set a “hold” rating for the company in a research note on Monday. Sanford C. Bernstein raised their target price on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Finally, StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $231.13.

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.