Horizon Wealth Management LLC Boosts Holdings in International Business Machines Co. (NYSE:IBM)

Horizon Wealth Management LLC grew its stake in shares of International Business Machines Co. (NYSE:IBM) by 9.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,526 shares of the technology company’s stock after purchasing an additional 217 shares during the quarter. Horizon Wealth Management LLC’s holdings in International Business Machines were worth $555,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Ellenbecker Investment Group lifted its stake in International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after purchasing an additional 46 shares in the last quarter. Goldstein Advisors LLC grew 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 valued at $269,000 after buying an additional 47 shares in the last quarter. Vertex Planning Partners LLC raised its holdings in shares of International Business Machines by 3.6% during 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. Forza Wealth Management LLC boosted its position in shares of International Business Machines by 0.4% during 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. Finally, Sollinda Capital Management LLC grew its holdings in shares of International Business Machines by 3.7% in the third quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after purchasing an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IBM shares. Stifel Nicolaus lifted their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Bank of America upped their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley lifted their target price on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. BMO Capital Markets increased their price target 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, StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $214.88.

International Business Machines Stock Down 1.1 %

International Business Machines stock traded down $2.36 during midday trading on Monday, reaching $217.39. The company’s stock had a trading volume of 3,709,385 shares, compared to its average volume of 3,206,479. The stock’s 50-day simple moving average is $221.92 and its 200-day simple moving average is $209.52. The stock has a market capitalization of $201.01 billion, a P/E ratio of 31.64, a PEG ratio of 5.18 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $239.35.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.20 earnings per share. On average, sell-side analysts expect that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently declared 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. This represents a $6.68 annualized dividend and a yield of 3.07%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

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.