Destination Wealth Management Boosts Stake in International Business Machines Co. (NYSE:IBM)

Destination Wealth Management raised its holdings in International Business Machines Co. (NYSE:IBM) by 61.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,720 shares of the technology company’s stock after buying an additional 1,421 shares during the period. Destination Wealth Management’s holdings in International Business Machines were worth $818,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Compass Financial Services Inc acquired a new stake in shares of International Business Machines in the 4th quarter valued at $26,000. Hara Capital LLC acquired a new position in International Business Machines in the third quarter valued at $29,000. Vision Financial Markets LLC acquired a new position in International Business Machines in the fourth quarter valued at $31,000. Avondale Wealth Management increased 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 during the period. Finally, Valued Wealth Advisors LLC boosted 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 valued at $35,000 after acquiring an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Monday, January 27th. Sanford C. Bernstein upped their price target on shares of 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. Morgan Stanley upped their price target on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Finally, Wedbush initiated coverage on shares of International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, International Business Machines has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Down 1.1 %

IBM stock opened at $248.54 on Friday. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $265.72. The firm has a 50 day simple moving average of $240.52 and a 200 day simple moving average of $225.74. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The firm has a market cap of $230.47 billion, a PE ratio of 38.77, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its quarterly earnings data 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 net margin of 9.60% and a return on equity of 38.99%. Equities research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Insider Activity

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

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.