Sound View Wealth Advisors Group LLC Raises Stock Holdings in International Business Machines Co. (NYSE:IBM)

Sound View Wealth Advisors Group LLC boosted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,849 shares of the technology company’s stock after purchasing an additional 1,057 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in International Business Machines were worth $7,001,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. JBR Co Financial Management Inc boosted its holdings in International Business Machines by 0.6% in the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock worth $1,405,000 after purchasing an additional 40 shares in the last quarter. Schechter Investment Advisors LLC raised its position in International Business Machines by 0.7% in the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock worth $1,396,000 after purchasing an additional 43 shares in the last quarter. Callan Capital LLC grew its stake in International Business Machines by 2.4% during the fourth quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock worth $411,000 after buying an additional 44 shares during the last quarter. Marks Group Wealth Management Inc grew its stake in International Business Machines by 0.4% during the fourth quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock worth $2,292,000 after buying an additional 45 shares during the last quarter. Finally, First Affirmative Financial Network grew its stake in shares of International Business Machines by 1.5% during the fourth quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company’s stock valued at $687,000 after purchasing an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $261.67 on Friday. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. The business has a fifty day moving average price of $241.29 and a two-hundred day moving average price of $226.41. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The stock has a market capitalization of $242.63 billion, a PE ratio of 40.82, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data 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 return on equity of 38.99% and a net margin of 9.60%. As a group, equities analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s payout ratio is presently 104.21%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IBM. BMO Capital Markets increased their price target on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. Wedbush began coverage on shares of International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating on the stock. Finally, Jefferies Financial Group lifted their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $231.44.

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.