Allen Capital Group LLC Has $5.06 Million Stake in International Business Machines Co. (NYSE:IBM)

Allen Capital Group LLC grew its position in shares of International Business Machines Co. (NYSE:IBM) by 3.5% in the 4th quarter, Holdings Channel reports. The firm owned 23,017 shares of the technology company’s stock after acquiring an additional 771 shares during the quarter. Allen Capital Group LLC’s holdings in International Business Machines were worth $5,060,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of IBM. Hazlett Burt & Watson Inc. increased its holdings in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares during the last quarter. Hara Capital LLC bought a new position in shares of International Business Machines in the third quarter worth $29,000. Avondale Wealth Management raised its stake in International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares in the last quarter. Valued Wealth Advisors LLC increased its holdings in shares of International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after buying an additional 90 shares during the period. Finally, Modus Advisors LLC bought a new stake in International Business Machines in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on IBM shares. Stifel Nicolaus lifted their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on International Business Machines from $227.00 to $233.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Monday. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group increased their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus target price of $220.40.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.07% of the company’s stock.

International Business Machines Trading Up 0.5 %

NYSE:IBM opened at $226.82 on Wednesday. The stock has a market cap of $209.73 billion, a price-to-earnings ratio of 33.04, a price-to-earnings-growth ratio of 4.78 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. The business’s 50-day simple moving average is $224.95 and its 200 day simple moving average is $213.44. International Business Machines Co. has a one year low of $162.62 and a one year high of $239.35.

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.