FSR Wealth Management Ltd. Takes $207,000 Position in International Business Machines Co. (NYSE:IBM)

FSR Wealth Management Ltd. purchased a new stake in International Business Machines Co. (NYSE:IBM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 944 shares of the technology company’s stock, valued at approximately $207,000.

Several other hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its holdings in International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after acquiring an additional 166 shares in the last quarter. Brady Martz Wealth Solutions LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in International Business Machines during the fourth quarter valued at approximately $373,000. Philip James Wealth Mangement LLC bought a new stake in International Business Machines during the third quarter worth $5,117,000. Finally, Nordea Investment Management AB boosted its holdings in shares of International Business Machines by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock valued at $16,615,000 after purchasing an additional 4,625 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Down 0.4 %

Shares of NYSE:IBM opened at $252.31 on Monday. The stock has a market cap of $233.30 billion, a price-to-earnings ratio of 39.36, a PEG ratio of 5.57 and a beta of 0.76. The business’s 50 day moving average is $229.76 and its 200 day moving average is $217.15. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $265.72. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) 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 38.99%. On average, sell-side analysts forecast that International Business Machines Co. will post 10.75 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.65%. International Business Machines’s payout ratio is currently 104.21%.

Wall Street Analyst Weigh In

IBM has been the topic of a number of research analyst reports. Jefferies Financial Group raised their price target on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Bank of America increased their target price on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Wedbush assumed coverage on shares of International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating for the company. 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 report on Friday, January 3rd. Finally, UBS Group lifted their price target on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $225.53.

International Business Machines Company 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.