Hutchens & Kramer Investment Management Group LLC Purchases Shares of 1,029 International Business Machines Co. (NYSE:IBM)

Hutchens & Kramer Investment Management Group LLC purchased a new stake in International Business Machines Co. (NYSE:IBM) in the fourth quarter, HoldingsChannel reports. The fund purchased 1,029 shares of the technology company’s stock, valued at approximately $226,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Ellenbecker Investment Group boosted its holdings in International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after purchasing an additional 46 shares during the period. Goldstein Advisors LLC boosted its holdings in International Business Machines by 4.0% in the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after purchasing an additional 47 shares during the period. Vertex Planning Partners LLC boosted its holdings in International Business Machines by 3.6% in the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock valued at $298,000 after purchasing an additional 47 shares during the period. Forza Wealth Management LLC boosted its holdings in International Business Machines by 0.4% in the 4th quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock valued at $2,891,000 after purchasing an additional 47 shares during the period. Finally, Sollinda Capital Management LLC raised its stake in shares of International Business Machines by 3.7% in the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after buying an additional 49 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Sanford C. Bernstein increased their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. increased their price objective on shares of International Business Machines from $227.00 to $233.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, DZ Bank cut 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 note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, International Business Machines currently has an average rating of “Hold” and an average target price of $220.73.

International Business Machines Stock Down 0.3 %

Shares of NYSE:IBM opened at $224.06 on Tuesday. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $239.35. The company’s 50-day moving average price is $224.33 and its two-hundred day moving average price is $212.82. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a market cap of $207.18 billion, a P/E ratio of 32.61, a P/E/G ratio of 4.78 and a beta of 0.74.

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 issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Insiders Place Their Bets

In other 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 approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.