Ibex Wealth Advisors Acquires Shares of 64,199 International Business Machines Co. (NYSE:IBM)

Ibex Wealth Advisors purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 64,199 shares of the technology company’s stock, valued at approximately $14,113,000. International Business Machines comprises approximately 1.7% of Ibex Wealth Advisors’ portfolio, making the stock its 9th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. raised its stake 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 acquiring an additional 116 shares during the period. Hara Capital LLC acquired a new stake in shares of International Business Machines during the 3rd quarter worth approximately $29,000. Avondale Wealth Management lifted its holdings in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares during the last quarter. Valued Wealth Advisors LLC boosted its position in International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after purchasing an additional 90 shares during the period. Finally, Modus Advisors LLC bought a new position in International Business Machines during the 4th quarter worth $40,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 0.1 %

IBM traded up $0.26 during trading on Wednesday, reaching $225.92. The company had a trading volume of 543,384 shares, compared to its average volume of 3,500,632. 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 12-month low of $162.62 and a 12-month high of $239.35. The company has a market cap of $208.89 billion, a price-to-earnings ratio of 32.95, a PEG ratio of 4.78 and a beta of 0.74. The firm’s 50-day simple moving average is $224.95 and its 200 day simple moving average is $213.44.

Analyst Ratings Changes

A number of research firms have recently weighed in on IBM. Sanford C. Bernstein lifted their price target on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. increased their price target on International Business Machines from $227.00 to $233.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Bank of America lifted their price objective on shares of International Business Machines from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Stifel Nicolaus increased their target price on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, UBS Group boosted their price target on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $220.40.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.07% of the stock is currently owned by insiders.

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.