Bar Harbor Wealth Management Grows Position in International Business Machines Co. (NYSE:IBM)

Bar Harbor Wealth Management boosted its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 76,837 shares of the technology company’s stock after buying an additional 977 shares during the quarter. International Business Machines accounts for approximately 1.1% of Bar Harbor Wealth Management’s portfolio, making the stock its 24th largest holding. Bar Harbor Wealth Management’s holdings in International Business Machines were worth $16,891,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Eastern Bank grew its holdings in International Business Machines by 40.5% in the fourth quarter. Eastern Bank now owns 31,544 shares of the technology company’s stock valued at $6,934,000 after purchasing an additional 9,091 shares during the last quarter. Persium Advisors LLC acquired a new position in shares of International Business Machines during the 4th quarter worth approximately $679,000. Clean Yield Group lifted its stake in International Business Machines by 3.0% in the 4th quarter. Clean Yield Group now owns 21,563 shares of the technology company’s stock valued at $4,740,000 after buying an additional 627 shares in the last quarter. Forza Wealth Management LLC grew its holdings in International Business Machines by 0.4% during the 4th quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock valued at $2,891,000 after buying an additional 47 shares during the last quarter. Finally, Cooper Financial Group increased its position in International Business Machines by 2.4% during the fourth quarter. Cooper Financial Group now owns 8,190 shares of the technology company’s stock worth $1,800,000 after buying an additional 195 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. BMO Capital Markets increased 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. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. The Goldman Sachs Group lifted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Stifel Nicolaus increased their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $214.88.

International Business Machines Stock Down 1.1 %

Shares of IBM stock traded down $2.36 during trading hours on Monday, reaching $217.39. The company had a trading volume of 2,226,215 shares, compared to its average volume of 2,943,109. The stock’s fifty day simple moving average is $221.92 and its 200 day simple moving average is $209.52. The company has a market capitalization of $201.01 billion, a P/E ratio of 31.64, a price-to-earnings-growth ratio of 5.18 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 Co. has a twelve month low of $162.62 and a twelve month high of $239.35.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.20 earnings per share. As a group, sell-side analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.07%. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.07% of the company’s stock.

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.