Envestnet Asset Management Inc. Boosts Position in International Business Machines Co. (NYSE:IBM)

Envestnet Asset Management Inc. grew its position in International Business Machines Co. (NYSE:IBM) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,361,646 shares of the technology company’s stock after buying an additional 3,573 shares during the quarter. Envestnet Asset Management Inc. owned 0.15% of International Business Machines worth $299,331,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in IBM. Compass Financial Services Inc acquired a new position in International Business Machines during the fourth quarter worth about $26,000. Vision Financial Markets LLC acquired a new position in shares of International Business Machines during the 4th quarter worth approximately $31,000. Avondale Wealth Management raised its position in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares during the last quarter. Valued Wealth Advisors LLC grew its holdings 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 valued at $35,000 after buying an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC purchased a new position in International Business Machines during the fourth quarter worth $35,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Down 6.6 %

NYSE IBM opened at $227.31 on Friday. The firm has a market capitalization of $210.78 billion, a price-to-earnings ratio of 35.46, a PEG ratio of 5.81 and a beta of 0.67. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45. The company’s 50 day moving average price is $251.46 and its 200 day moving average price is $232.54.

International Business Machines (NYSE:IBM) last posted 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%. On average, sell-side analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid 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 2.94%. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IBM. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Jefferies Financial Group reduced their target price on shares of International Business Machines from $270.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, March 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Monday, January 27th. Bank of America raised their target price 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. Finally, JPMorgan Chase & Co. boosted their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus target price of $231.13.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction on 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

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.