Providence Capital Advisors LLC Acquires 358 Shares of International Business Machines Co. (NYSE:IBM)

Providence Capital Advisors LLC boosted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,646 shares of the technology company’s stock after buying an additional 358 shares during the quarter. Providence Capital Advisors LLC’s holdings in International Business Machines were worth $3,879,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Compass Financial Services Inc purchased a new position in International Business Machines during the fourth quarter valued at $26,000. Vision Financial Markets LLC bought a new position in shares of International Business Machines during the 4th quarter valued at approximately $31,000. Avondale Wealth Management increased its holdings in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares in the last quarter. Valued Wealth Advisors LLC raised its stake in International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after acquiring an additional 90 shares during the period. Finally, Rialto Wealth Management LLC purchased a new position in International Business Machines during the fourth quarter valued at approximately $35,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IBM has been the topic of several recent analyst reports. Jefferies Financial Group raised their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Wedbush initiated coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating on the stock. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Sanford C. Bernstein lifted their target price on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Finally, UBS Group upped their price target on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $231.44.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

International Business Machines Price Performance

NYSE:IBM opened at $246.30 on Friday. The firm has a market capitalization of $228.38 billion, a price-to-earnings ratio of 38.42, a PEG ratio of 5.81 and a beta of 0.74. The business has a 50 day simple moving average of $249.12 and a 200-day simple moving average of $231.01. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating 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%. Equities analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

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

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.