Summit Securities Group LLC Boosts Stake in International Business Machines Co. (NYSE:IBM)

Summit Securities Group LLC raised its holdings in International Business Machines Co. (NYSE:IBM) by 1,428.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,400 shares of the technology company’s stock after acquiring an additional 20,000 shares during the period. International Business Machines makes up 1.0% of Summit Securities Group LLC’s investment portfolio, making the stock its 14th largest position. Summit Securities Group LLC’s holdings in International Business Machines were worth $4,704,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of IBM. JBR Co Financial Management Inc boosted its stake in International Business Machines by 0.6% during the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock worth $1,405,000 after purchasing an additional 40 shares during the last quarter. Schechter Investment Advisors LLC boosted its position in International Business Machines by 0.7% during the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock worth $1,396,000 after acquiring an additional 43 shares during the last quarter. Callan Capital LLC grew its stake in International Business Machines by 2.4% during the 4th quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock valued at $411,000 after acquiring an additional 44 shares in the last quarter. Marks Group Wealth Management Inc lifted its stake in International Business Machines by 0.4% in the 4th quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock worth $2,292,000 after purchasing an additional 45 shares in the last quarter. Finally, Tower Wealth Partners Inc. boosted its holdings in shares of International Business Machines by 1.9% during the 4th quarter. Tower Wealth Partners Inc. now owns 2,376 shares of the technology company’s stock worth $522,000 after purchasing an additional 45 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 1.0 %

Shares of NYSE IBM opened at $243.83 on Friday. 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 capitalization of $226.10 billion, a price-to-earnings ratio of 38.04, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The business has a 50-day moving average of $249.51 and a two-hundred day moving average of $231.47.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.74%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on IBM shares. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Jefferies Financial Group upped their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. BMO Capital Markets raised 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. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Monday, January 27th. Finally, UBS Group lifted their price target on shares of 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 research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $231.44.

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.