EverSource Wealth Advisors LLC Has $777,000 Stake in International Business Machines Co. (NYSE:IBM)

EverSource Wealth Advisors LLC boosted its holdings in International Business Machines Co. (NYSE:IBM) by 32.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,536 shares of the technology company’s stock after purchasing an additional 872 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in International Business Machines were worth $777,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its position in shares of International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after buying an additional 1,200,803 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of International Business Machines by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company’s stock valued at $1,465,223,000 after buying an additional 126,547 shares in the last quarter. FMR LLC raised its position in shares of International Business Machines by 6.0% in the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after buying an additional 294,276 shares in the last quarter. Swiss National Bank raised its position in shares of International Business Machines by 0.5% in the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after buying an additional 12,400 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of International Business Machines in the 4th quarter valued at approximately $592,746,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IBM. Oppenheimer began coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price for the company. UBS Group upped their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. BMO Capital Markets upped their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Jefferies Financial Group upped their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Finally, Sanford C. Bernstein upped their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Performance

IBM opened at $245.67 on Friday. 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 company’s fifty day moving average price is $243.72 and its two-hundred day moving average price is $227.70. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $266.45. The company has a market cap of $227.80 billion, a price-to-earnings ratio of 38.33, a PEG ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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%. On average, analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.72%. International Business Machines’s dividend payout ratio is currently 104.21%.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the transaction, the senior vice president now owns 45,007 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is currently owned by corporate insiders.

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.