Woodmont Investment Counsel LLC Boosts Stock Position in International Business Machines Co. (NYSE:IBM)

Woodmont Investment Counsel LLC raised its position in International Business Machines Co. (NYSE:IBM) by 12.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,949 shares of the technology company’s stock after buying an additional 337 shares during the period. Woodmont Investment Counsel LLC’s holdings in International Business Machines were worth $648,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Blue Zone Wealth Advisors LLC acquired a new stake in International Business Machines during the fourth quarter worth approximately $242,000. Brady Martz Wealth Solutions LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth $1,940,000. Tranquilli Financial Advisor LLC purchased a new stake in shares of International Business Machines in the fourth quarter valued at $373,000. Truist Financial Corp increased its stake in International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after purchasing an additional 49,591 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in International Business Machines by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after buying an additional 4,625 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IBM has been the subject of several recent analyst reports. Wedbush started coverage on International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating for the company. Bank of America upped their price target on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. Jefferies Financial Group increased their target price on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Finally, Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $231.44.

International Business Machines Stock Performance

International Business Machines stock opened at $248.49 on Tuesday. 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 firm’s fifty day moving average price is $247.40 and its 200 day moving average price is $230.42. The company has a market capitalization of $230.42 billion, a price-to-earnings ratio of 38.77, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating 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%. On average, research analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.69%. International Business Machines’s dividend payout ratio is presently 104.21%.

International Business Machines 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.