Red Door Wealth Management LLC Raises Stake in International Business Machines Co. (NYSE:IBM)

Red Door Wealth Management LLC lifted its stake in shares of International Business Machines Co. (NYSE:IBM) by 15.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,141 shares of the technology company’s stock after acquiring an additional 706 shares during the period. Red Door Wealth Management LLC’s holdings in International Business Machines were worth $1,130,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Planning Advisors LLC raised its stake in International Business Machines by 3.5% during the fourth quarter. Capital Planning Advisors LLC now owns 29,693 shares of the technology company’s stock worth $6,527,000 after purchasing an additional 997 shares during the period. Goldstein Advisors LLC raised its position in shares of International Business Machines by 58.8% during the 4th quarter. Goldstein Advisors LLC now owns 1,932 shares of the technology company’s stock valued at $425,000 after buying an additional 715 shares during the period. Avior Wealth Management LLC lifted its holdings in International Business Machines by 1.4% in the fourth quarter. Avior Wealth Management LLC now owns 8,176 shares of the technology company’s stock valued at $1,756,000 after acquiring an additional 114 shares during the last quarter. Bill Few Associates Inc. grew its position in International Business Machines by 0.5% in the fourth quarter. Bill Few Associates Inc. now owns 15,450 shares of the technology company’s stock worth $3,396,000 after acquiring an additional 75 shares during the period. Finally, Mutual Advisors LLC increased its stake in International Business Machines by 0.9% during the fourth quarter. Mutual Advisors LLC now owns 38,184 shares of the technology company’s stock worth $8,502,000 after acquiring an additional 358 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on IBM. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Bernstein Bank increased their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group boosted their price target on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. increased their price objective on shares of International Business Machines from $227.00 to $233.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, UBS Group boosted their target price on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average target price of $220.73.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s 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 transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $225.63 on Friday. The stock has a market cap of $208.63 billion, a P/E ratio of 32.84, a P/E/G ratio of 4.80 and a beta of 0.74. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $239.35. The stock has a 50 day moving average of $223.60 and a two-hundred day moving average of $211.90. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16.

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

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

International Business Machines Company 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.