Biltmore Family Office LLC Boosts Stock Holdings in International Business Machines Co. (NYSE:IBM)

Biltmore Family Office LLC boosted its holdings in International Business Machines Co. (NYSE:IBM) by 5.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,536 shares of the technology company’s stock after acquiring an additional 333 shares during the quarter. Biltmore Family Office LLC’s holdings in International Business Machines were worth $1,437,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IBM. Compass Financial Services Inc bought a new position in shares of International Business Machines during the fourth quarter valued at about $26,000. Vision Financial Markets LLC bought a new stake in shares of International Business Machines during the 4th quarter valued at about $31,000. Avondale Wealth Management raised its position in shares of International Business Machines by 56.0% in 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 in the last quarter. Valued Wealth Advisors LLC lifted its position 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 valued at $35,000 after acquiring an additional 90 shares during the period. Finally, Rialto Wealth Management LLC purchased a new position in shares of International Business Machines during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. BMO Capital Markets raised their price objective on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Wedbush assumed coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Morgan Stanley raised their price objective on shares of 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. Finally, Bank of America upped their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $231.13.

International Business Machines Price Performance

NYSE IBM opened at $249.90 on Thursday. 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 firm has a market capitalization of $231.72 billion, a P/E ratio of 38.99, a PEG ratio of 5.81 and a beta of 0.74. The company has a 50-day moving average price of $251.05 and a 200-day moving average price of $232.26. 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 released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating 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 year.

International Business Machines Dividend Announcement

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

Insider Activity

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 value of $6,715,644.43. Following the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

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.