Ritholtz Wealth Management Buys 1,157 Shares of International Business Machines Co. (NYSE:IBM)

Ritholtz Wealth Management boosted its position in International Business Machines Co. (NYSE:IBM) by 10.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,753 shares of the technology company’s stock after buying an additional 1,157 shares during the period. Ritholtz Wealth Management’s holdings in International Business Machines were worth $2,584,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. lifted its holdings in shares of International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC acquired a new position in International Business Machines during the third quarter worth $29,000. Avondale Wealth Management lifted its stake in shares of International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after buying an additional 56 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of International Business Machines during the second quarter valued at about $36,000. Finally, Modus Advisors LLC acquired a new stake in shares of International Business Machines in the 4th quarter worth about $40,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on IBM. Stifel Nicolaus lifted their price target on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. BMO Capital Markets raised their price objective on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, International Business Machines has an average rating of “Hold” and a consensus price target of $215.81.

International Business Machines Stock Up 0.9 %

IBM stock opened at $224.73 on Friday. The stock has a fifty day moving average of $222.65 and a 200-day moving average of $210.31. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $239.35. The company has a market capitalization of $207.80 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 4.71 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company earned $2.20 earnings per share. As a group, equities research analysts predict that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.97%. International Business Machines’s payout ratio is 97.23%.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.07% 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.