Novare Capital Management LLC Raises Position in International Business Machines Co. (NYSE:IBM)

Novare Capital Management LLC grew its holdings in International Business Machines Co. (NYSE:IBM) by 21.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,881 shares of the technology company’s stock after acquiring an additional 511 shares during the period. Novare Capital Management LLC’s holdings in International Business Machines were worth $633,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Hazlett Burt & Watson Inc. grew its stake in International Business Machines by 1,054.5% during 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 purchased a new position in shares of International Business Machines in the 3rd quarter valued at about $29,000. Avondale Wealth Management grew its position 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 worth $34,000 after buying an additional 56 shares in the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines during the second quarter worth approximately $36,000. Finally, Modus Advisors LLC acquired a new stake in International Business Machines in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on 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 directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is owned by insiders.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $224.69 on Friday. The firm’s fifty day simple moving average is $224.33 and its 200-day simple moving average is $212.32. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $239.35. The stock has a market capitalization of $207.75 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 4.78 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period in the previous year, the business posted $2.20 earnings per share. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, equities analysts forecast that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

Wall Street Analysts Forecast Growth

Several research firms have commented on IBM. Jefferies Financial Group boosted their price target on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Sanford C. Bernstein boosted 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 note on Friday, January 3rd. Morgan Stanley raised their price target on International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $220.73.

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.