Red Spruce Capital LLC raised its holdings in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,051 shares of the technology company’s stock after acquiring an additional 216 shares during the quarter. Red Spruce Capital LLC’s holdings in International Business Machines were worth $1,770,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Beaumont Financial Advisors LLC grew its position in shares of International Business Machines by 3.1% in the 4th quarter. Beaumont Financial Advisors LLC now owns 9,224 shares of the technology company’s stock valued at $2,028,000 after buying an additional 274 shares during the last quarter. Proquility Private Wealth Partners LLC increased its position in shares of International Business Machines by 4.3% during the fourth quarter. Proquility Private Wealth Partners LLC now owns 14,546 shares of the technology company’s stock worth $3,198,000 after purchasing an additional 595 shares in the last quarter. Roberts Wealth Advisors LLC purchased a new stake in shares of International Business Machines in the 4th quarter valued at about $200,000. Exchange Bank increased its position in International Business Machines by 2.2% during the fourth quarter. Exchange Bank now owns 7,898 shares of the technology company’s stock worth $1,736,000 after buying an additional 171 shares during the period. Finally, Atomi Financial Group Inc. increased its holdings in shares of International Business Machines by 8.3% in the 4th quarter. Atomi Financial Group Inc. now owns 25,235 shares of the technology company’s stock valued at $5,547,000 after acquiring an additional 1,943 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.
International Business Machines Stock Performance
International Business Machines stock opened at $224.30 on Wednesday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $239.35. The company has a market capitalization of $207.40 billion, a price-to-earnings ratio of 32.65, a price-to-earnings-growth ratio of 4.81 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm’s fifty day moving average price is $223.09 and its 200 day moving average price is $211.48.
International Business Machines Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.98%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.
Insider Transactions at International Business Machines
In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.07% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the company. UBS Group increased their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Jefferies Financial Group upped their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Bernstein Bank raised their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Bank of America raised their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $216.87.
View Our Latest Research Report on International Business Machines
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.
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