International Business Machines Co. (NYSE:IBM) Stake Lifted by Prentice Wealth Management LLC

Prentice Wealth Management LLC raised its stake in International Business Machines Co. (NYSE:IBM) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,046 shares of the technology company’s stock after buying an additional 53 shares during the quarter. Prentice Wealth Management LLC’s holdings in International Business Machines were worth $1,109,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Compass Financial Services Inc acquired a new position in shares of International Business Machines during the fourth quarter valued at $26,000. Hazlett Burt & Watson Inc. grew its position in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after buying an additional 116 shares in the last quarter. Hara Capital LLC acquired a new position in International Business Machines during the 3rd quarter valued at about $29,000. Avondale Wealth Management raised its position in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares in the last quarter. Finally, Valued Wealth Advisors LLC lifted its stake in shares of International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after acquiring an additional 90 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM stock opened at $261.77 on Friday. The company has a market capitalization of $242.05 billion, a price-to-earnings ratio of 40.84, a P/E/G ratio of 5.80 and a beta of 0.76. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $265.72. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The stock’s fifty day simple moving average is $235.27 and its 200-day simple moving average is $221.81.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts predict that International Business Machines Co. will post 10.77 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IBM shares. Jefferies Financial Group boosted their target price on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Morgan Stanley raised their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Finally, Sanford C. Bernstein boosted their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus target price of $231.44.

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.