Commonwealth Retirement Investments LLC Acquires 456 Shares of International Business Machines Co. (NYSE:IBM)

Commonwealth Retirement Investments LLC raised its holdings in International Business Machines Co. (NYSE:IBM) by 2.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 16,317 shares of the technology company’s stock after buying an additional 456 shares during the quarter. International Business Machines accounts for about 1.5% of Commonwealth Retirement Investments LLC’s investment portfolio, making the stock its 18th largest holding. Commonwealth Retirement Investments LLC’s holdings in International Business Machines were worth $3,587,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. grew its position in shares of International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after buying an additional 166 shares during the last quarter. Blue Zone Wealth Advisors LLC bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $242,000. Brady Martz Wealth Solutions LLC bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $1,940,000. Tranquilli Financial Advisor LLC bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $373,000. Finally, Philip James Wealth Mangement LLC bought a new stake in shares of International Business Machines in the 3rd quarter worth approximately $5,117,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Up 0.2 %

IBM stock opened at $262.12 on Tuesday. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $265.72. The business has a fifty day moving average price of $235.92 and a 200-day moving average price of $222.79. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The stock has a market capitalization of $242.37 billion, a P/E ratio of 40.89, a P/E/G ratio of 5.81 and a beta of 0.76.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Equities analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on IBM shares. Bank of America lifted their price target on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. UBS Group lifted their price target on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Sanford C. Bernstein lifted their price target on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Finally, StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $231.44.

About International Business Machines

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.