Wedmont Private Capital Buys 1,041 Shares of International Business Machines Co. (NYSE:IBM)

Wedmont Private Capital raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 10.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 11,395 shares of the technology company’s stock after purchasing an additional 1,041 shares during the period. Wedmont Private Capital’s holdings in International Business Machines were worth $2,504,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ellenbecker Investment Group grew its position in shares of International Business Machines by 2.3% in the third 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 last quarter. Goldstein Advisors LLC grew its position in shares of International Business Machines by 4.0% in the third 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 grew its stake in shares of International Business Machines by 3.6% during the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock valued at $298,000 after buying an additional 47 shares during the period. Sollinda Capital Management LLC increased its stake in International Business Machines by 3.7% during the third quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock worth $301,000 after acquiring an additional 49 shares during the last quarter. Finally, Lansing Street Advisors lifted its position in International Business Machines by 3.4% during the third quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock valued at $332,000 after buying an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on IBM. Morgan Stanley boosted their target price on shares of International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Sanford C. Bernstein lifted their target price on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Jefferies Financial Group upped their target price on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Finally, 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. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and an average target price of $214.88.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’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 in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.07% of the stock is owned by company insiders.

International Business Machines Stock Down 1.4 %

NYSE:IBM traded down $3.12 during trading hours on Monday, hitting $216.63. 1,434,932 shares of the company’s stock traded hands, compared to its average volume of 2,880,658. The stock’s fifty day moving average price is $221.92 and its two-hundred day moving average price is $209.52. The firm has a market cap of $200.31 billion, a P/E ratio of 31.53, a P/E/G ratio of 5.18 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $239.35.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period in the prior year, the firm earned $2.20 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. On average, research analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

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.