GM Advisory Group LLC Purchases 115 Shares of International Business Machines Co. (NYSE:IBM)

GM Advisory Group LLC increased its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,329 shares of the technology company’s stock after buying an additional 115 shares during the quarter. GM Advisory Group LLC’s holdings in International Business Machines were worth $1,172,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in IBM. United Bank grew its position in International Business Machines by 53.3% during the third quarter. United Bank now owns 5,628 shares of the technology company’s stock worth $1,244,000 after buying an additional 1,956 shares in the last quarter. Quest Partners LLC grew its position in International Business Machines by 23,700.0% during the third quarter. Quest Partners LLC now owns 238 shares of the technology company’s stock worth $53,000 after buying an additional 237 shares in the last quarter. Drive Wealth Management LLC acquired a new stake in International Business Machines during the third quarter worth approximately $339,000. New England Asset Management Inc. grew its position in International Business Machines by 3.0% during the third quarter. New England Asset Management Inc. now owns 33,175 shares of the technology company’s stock worth $7,334,000 after buying an additional 975 shares in the last quarter. Finally, Pathstone Holdings LLC increased its stake in shares of International Business Machines by 3.2% in the 3rd quarter. Pathstone Holdings LLC now owns 115,093 shares of the technology company’s stock valued at $25,445,000 after purchasing an additional 3,558 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of the company’s 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on IBM shares. Jefferies Financial Group upped their price objective on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Oppenheimer began coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target on the stock. Bank of America upped their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $246.80 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $266.45. The stock has a market cap of $228.85 billion, a price-to-earnings ratio of 38.50, a P/E/G ratio of 5.81 and a beta of 0.74. The company’s fifty day moving average is $245.29 and its 200 day moving average is $229.16.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 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%. Sell-side analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.71%. International Business Machines’s dividend payout ratio is currently 104.21%.

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.