Congress Wealth Management LLC DE Increases Stock Position in International Business Machines Co. (NYSE:IBM)

Congress Wealth Management LLC DE raised its position in International Business Machines Co. (NYSE:IBM) by 10.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,730 shares of the technology company’s stock after acquiring an additional 1,987 shares during the quarter. Congress Wealth Management LLC DE’s holdings in International Business Machines were worth $4,777,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Compass Financial Services Inc bought a new position in International Business Machines during the 4th quarter valued at approximately $26,000. Vision Financial Markets LLC purchased a new position in shares of International Business Machines during the fourth quarter valued at approximately $31,000. Avondale Wealth Management raised its holdings in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares in the last quarter. Valued Wealth Advisors LLC lifted its stake in International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after acquiring an additional 90 shares during the period. Finally, Rialto Wealth Management LLC bought a new stake in International Business Machines in the fourth quarter valued at $35,000. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IBM. Sanford C. Bernstein raised their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Jefferies Financial Group raised their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. Finally, UBS Group upped their price target on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $231.44.

International Business Machines Stock Up 0.6 %

Shares of International Business Machines stock opened at $250.01 on Wednesday. The company has a 50-day simple moving average of $248.04 and a two-hundred day simple moving average of $230.76. The stock has a market capitalization of $231.83 billion, a PE ratio of 39.00, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45. 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 (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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%. On average, analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.67%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by corporate insiders.

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.