Cornerstone Wealth Group LLC Raises Holdings in International Business Machines Co. (NYSE:IBM)

Cornerstone Wealth Group LLC lifted its holdings in International Business Machines Co. (NYSE:IBM) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,757 shares of the technology company’s stock after buying an additional 83 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in International Business Machines were worth $826,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. International Assets Investment Management LLC lifted its stake 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 valued at $600,373,000 after purchasing an additional 2,702,340 shares during the period. Holocene Advisors LP acquired a new stake in shares of International Business Machines during the 3rd quarter valued at approximately $573,306,000. State Street Corp lifted its position in shares of International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after acquiring an additional 1,200,803 shares during the period. KBC Group NV boosted its stake in shares of International Business Machines by 90.4% during the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after acquiring an additional 800,930 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its stake in International Business Machines by 587.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock valued at $134,262,000 after purchasing an additional 536,785 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Transactions at International Business Machines

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

International Business Machines Price Performance

IBM stock opened at $224.69 on Monday. The stock has a market capitalization of $207.75 billion, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74. The stock’s fifty day simple moving average is $224.33 and its 200-day simple moving average is $212.57. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $239.35. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines Dividend Announcement

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

Analyst Ratings Changes

IBM has been the topic of several research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research note on Wednesday, October 2nd. Jefferies Financial Group lifted their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Morgan Stanley increased their price target on shares of International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Finally, BMO Capital Markets lifted their price objective on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average target price of $220.73.

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.