Ashton Thomas Private Wealth LLC Buys 7,290 Shares of International Business Machines Co. (NYSE:IBM)

Ashton Thomas Private Wealth LLC raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 82.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,178 shares of the technology company’s stock after purchasing an additional 7,290 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in International Business Machines were worth $3,556,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of IBM. Pettinga Financial Advisors LLC bought a new position in shares of International Business Machines in the 3rd quarter worth about $221,000. Blake Schutter Theil Wealth Advisors LLC bought a new position in shares of International Business Machines in the 3rd quarter worth about $268,000. Principal Financial Group Inc. raised its position in shares of International Business Machines by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,094,106 shares of the technology company’s stock worth $241,885,000 after acquiring an additional 46,951 shares in the last quarter. Hara Capital LLC bought a new position in shares of International Business Machines in the 3rd quarter worth about $29,000. Finally, Consolidated Planning Corp bought a new position in shares of International Business Machines in the 3rd quarter worth about $5,338,000. 58.96% of the stock is owned by institutional investors.

Insider Transactions at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.07% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM opened at $261.67 on Friday. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $265.72. The stock has a 50 day moving average price of $241.29 and a two-hundred day moving average price of $226.20. The firm has a market capitalization of $242.63 billion, a P/E ratio of 40.82, a P/E/G ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Equities 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 firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a $1.67 dividend. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.55%. International Business Machines’s payout ratio is presently 104.21%.

Analyst Ratings Changes

Several research firms have recently weighed in on IBM. JPMorgan Chase & Co. lifted their price objective on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. UBS Group boosted their target price on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Friday. Morgan Stanley boosted their target price on 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, Jefferies Financial Group boosted their target price on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $231.44.

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.