Uniting Wealth Partners LLC Purchases New Holdings in International Business Machines Co. (NYSE:IBM)

Uniting Wealth Partners LLC bought a new position in shares of International Business Machines Co. (NYSE:IBM) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 4,729 shares of the technology company’s stock, valued at approximately $1,039,000. International Business Machines makes up approximately 0.5% of Uniting Wealth Partners LLC’s investment portfolio, making the stock its 26th biggest position.

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

International Business Machines Price Performance

International Business Machines stock opened at $249.90 on Thursday. The firm has a market cap of $231.72 billion, a PE ratio of 38.99, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. 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 52-week low of $162.62 and a 52-week high of $266.45. The company’s 50 day moving average is $251.05 and its two-hundred day moving average is $232.26.

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

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 45,007 shares of the company’s stock, 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 SEC, which is accessible through this link. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Oppenheimer assumed coverage on International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target for the company. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Finally, Wedbush assumed coverage on shares of International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned 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 company has an average rating of “Hold” and a consensus target price of $231.13.

International Business Machines 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.