Elevation Wealth Partners LLC Buys 116 Shares of International Business Machines Co. (NYSE:IBM)

Elevation Wealth Partners LLC increased its stake in shares of International Business Machines Co. (NYSE:IBM) by 30.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 491 shares of the technology company’s stock after acquiring an additional 116 shares during the quarter. Elevation Wealth Partners LLC’s holdings in International Business Machines were worth $108,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of IBM. Compass Financial Services Inc acquired a new stake in International Business Machines during the fourth quarter worth $26,000. Hazlett Burt & Watson Inc. boosted its stake in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares in the last quarter. Hara Capital LLC acquired a new stake in International Business Machines during the third quarter worth $29,000. Avondale Wealth Management boosted its stake in International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares in the last quarter. Finally, Valued Wealth Advisors LLC boosted its stake in International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after buying an additional 90 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IBM. Jefferies Financial Group lifted their price target on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. JPMorgan Chase & Co. upped 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. Sanford C. Bernstein upped their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Finally, BMO Capital Markets upped their target price on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $225.53.

International Business Machines Stock Performance

International Business Machines stock opened at $252.31 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72. The company has a market cap of $233.30 billion, a PE ratio of 39.36, a PEG ratio of 5.57 and a beta of 0.76. The company’s 50-day moving average is $229.76 and its two-hundred day moving average is $217.15.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) 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 analysts anticipate that International Business Machines Co. will post 10.75 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.65%. International Business Machines’s dividend payout ratio is 104.21%.

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.