Thrive Wealth Management LLC Has $1.41 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Thrive Wealth Management LLC trimmed its position in International Business Machines Co. (NYSE:IBM) by 6.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,401 shares of the technology company’s stock after selling 475 shares during the quarter. Thrive Wealth Management LLC’s holdings in International Business Machines were worth $1,407,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its position in shares of International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after purchasing an additional 166 shares during the last quarter. Brady Martz Wealth Solutions LLC acquired a new position in International Business Machines in the fourth quarter valued at about $1,940,000. Susquehanna Fundamental Investments LLC bought a new position in International Business Machines during the second quarter worth about $7,160,000. Philip James Wealth Mangement LLC acquired a new position in shares of International Business Machines during the 3rd quarter worth about $5,117,000. Finally, Nordea Investment Management AB increased its stake 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 acquiring an additional 4,625 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Up 0.9 %

International Business Machines stock opened at $224.73 on Monday. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $239.35. The company has a fifty day simple moving average of $222.87 and a 200 day simple moving average of $210.89. The company has a market cap of $207.80 billion, a P/E ratio of 32.71, a price-to-earnings-growth ratio of 4.71 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter last year, the company earned $2.20 EPS. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts anticipate that International Business Machines Co. will post 10.16 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Bernstein Bank boosted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. The Goldman Sachs Group boosted their price target on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Sanford C. Bernstein raised their price objective on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. BMO Capital Markets boosted their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley raised their price target on 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $216.87.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated 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. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is currently owned by insiders.

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.