Kingsview Wealth Management LLC Grows Position in International Business Machines Co. (NYSE:IBM)

Kingsview Wealth Management LLC lifted its stake in International Business Machines Co. (NYSE:IBM) by 13.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 28,278 shares of the technology company’s stock after buying an additional 3,287 shares during the quarter. Kingsview Wealth Management LLC’s holdings in International Business Machines were worth $6,216,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. State Street Corp increased its position in International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. FMR LLC increased its position in International Business Machines by 6.0% during the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after acquiring an additional 294,276 shares during the last quarter. Swiss National Bank increased its position in International Business Machines by 0.5% during the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after acquiring an additional 12,400 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after purchasing an additional 2,702,340 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in shares of International Business Machines in the third quarter worth about $573,306,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 0.4 %

IBM stock opened at $252.31 on Friday. The firm has a 50 day moving average of $229.76 and a 200 day moving average of $216.92. The stock has a market capitalization of $233.30 billion, a PE ratio of 39.36, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76. 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 $265.72.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping 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%. Sell-side analysts forecast that International Business Machines Co. will post 10.75 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

Wall Street Analyst Weigh In

IBM has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. UBS Group upped their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Stifel Nicolaus upped their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. Finally, Morgan Stanley upped their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average target price of $225.53.

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.