Selective Wealth Management Inc. Acquires 128 Shares of International Business Machines Co. (NYSE:IBM)

Selective Wealth Management Inc. increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,013 shares of the technology company’s stock after buying an additional 128 shares during the quarter. International Business Machines accounts for about 0.5% of Selective Wealth Management Inc.’s holdings, making the stock its 26th biggest holding. Selective Wealth Management Inc.’s holdings in International Business Machines were worth $1,309,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of IBM. Massachusetts Financial Services Co. MA boosted its holdings in shares of International Business Machines by 13.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 77,189 shares of the technology company’s stock valued at $13,350,000 after acquiring an additional 9,155 shares in the last quarter. Seven Eight Capital LP acquired a new stake in shares of International Business Machines during the second quarter valued at about $1,305,000. ProVise Management Group LLC grew its holdings in shares of International Business Machines by 2.3% during the second quarter. ProVise Management Group LLC now owns 3,305 shares of the technology company’s stock worth $572,000 after purchasing an additional 74 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of International Business Machines by 66.6% in the second quarter. Intech Investment Management LLC now owns 318,035 shares of the technology company’s stock valued at $55,004,000 after buying an additional 127,147 shares during the period. Finally, Brighton Jones LLC boosted its position in International Business Machines by 1.5% during the 2nd quarter. Brighton Jones LLC now owns 17,766 shares of the technology company’s stock worth $3,073,000 after buying an additional 260 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.07% of the stock is currently owned by corporate insiders.

International Business Machines Price Performance

IBM stock opened at $224.73 on Friday. The company has a market capitalization of $207.80 billion, a P/E ratio of 32.71, a price-to-earnings-growth ratio of 4.71 and a beta of 0.74. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $239.35. The business has a 50-day simple moving average of $222.65 and a two-hundred day simple moving average of $210.31. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the business earned $2.20 EPS. Research analysts expect that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.97%. International Business Machines’s dividend payout ratio is currently 97.23%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on IBM shares. Jefferies Financial Group raised their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. UBS Group raised their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. BMO Capital Markets upped their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Finally, Bank of America boosted their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $215.81.

About International Business Machines

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.