International Business Machines Co. (NYSE:IBM) Shares Bought by Stone Summit Wealth LLC

Stone Summit Wealth LLC lifted its stake in shares of International Business Machines Co. (NYSE:IBM) by 21.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,446 shares of the technology company’s stock after buying an additional 253 shares during the quarter. Stone Summit Wealth LLC’s holdings in International Business Machines were worth $318,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Ellenbecker Investment Group raised its stake in shares of International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after purchasing an additional 46 shares in the last quarter. First Affirmative Financial Network raised its stake in International Business Machines by 1.5% during the fourth quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company’s stock valued at $687,000 after buying an additional 46 shares in the last quarter. Goldstein Advisors LLC lifted its holdings in International Business Machines by 4.0% during the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after buying an additional 47 shares during the last quarter. Vertex Planning Partners LLC grew its position in shares of International Business Machines by 3.6% in the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock worth $298,000 after acquiring an additional 47 shares in the last quarter. Finally, Forza Wealth Management LLC increased its holdings in shares of International Business Machines by 0.4% in the 4th quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock valued at $2,891,000 after acquiring an additional 47 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Down 0.4 %

International Business Machines stock opened at $252.31 on Monday. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $265.72. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The stock has a market cap of $233.30 billion, a price-to-earnings ratio of 39.36, a PEG ratio of 5.57 and a beta of 0.76. The company’s 50-day moving average price is $229.76 and its two-hundred day moving average price is $217.15.

International Business Machines (NYSE:IBM) last issued its quarterly 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 return on equity of 38.99% and a net margin of 9.60%. On average, analysts expect that International Business Machines Co. will post 10.75 EPS for the current fiscal year.

International Business Machines Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on IBM shares. JPMorgan Chase & Co. lifted their price objective 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. Wedbush began coverage on shares of International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating on the stock. BMO Capital Markets lifted their target price on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Morgan Stanley raised their price target 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. 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 data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $225.53.

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.