Chicago Partners Investment Group LLC Acquires 4,019 Shares of International Business Machines Co. (NYSE:IBM)

Chicago Partners Investment Group LLC grew its holdings in International Business Machines Co. (NYSE:IBM) by 25.6% in the 4th quarter, Holdings Channel reports. The fund owned 19,699 shares of the technology company’s stock after purchasing an additional 4,019 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in International Business Machines were worth $4,396,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of IBM. Hazlett Burt & Watson Inc. lifted its position in shares of International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC acquired a new position in shares of International Business Machines in the 3rd quarter valued at $29,000. Avondale Wealth Management lifted its holdings in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares during the period. Valued Wealth Advisors LLC increased 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 valued at $35,000 after acquiring an additional 90 shares during the period. Finally, Modus Advisors LLC acquired a new position in International Business Machines in the fourth quarter worth about $40,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

IBM has been the subject of several analyst reports. Bank of America lifted their price target on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. raised their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday. Morgan Stanley upped their price objective on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday. Jefferies Financial Group lifted their target price on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday. Finally, BMO Capital Markets boosted their target price on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday. Two 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $225.53.

International Business Machines Stock Down 1.1 %

International Business Machines stock opened at $255.48 on Friday. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $261.80. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm has a market capitalization of $236.23 billion, a price-to-earnings ratio of 39.86, a PEG ratio of 4.25 and a beta of 0.74. The company’s 50 day simple moving average is $225.96 and its 200 day simple moving average is $213.86.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results 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 40.37%. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.54 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

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.