Slagle Financial LLC Buys 880 Shares of International Business Machines Co. (NYSE:IBM)

Slagle Financial LLC grew its stake in International Business Machines Co. (NYSE:IBM) by 6.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,235 shares of the technology company’s stock after acquiring an additional 880 shares during the quarter. International Business Machines accounts for 1.4% of Slagle Financial LLC’s holdings, making the stock its 27th biggest position. Slagle Financial LLC’s holdings in International Business Machines were worth $3,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of IBM. Compass Financial Services Inc bought a new position in shares of International Business Machines during the fourth quarter worth about $26,000. Vision Financial Markets LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $31,000. Avondale Wealth Management boosted its holdings in International Business Machines by 56.0% during the fourth 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 increased its stake in International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after buying an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in International Business Machines in the 4th quarter valued at $35,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by corporate insiders.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $246.30 on Friday. 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 has a market capitalization of $228.38 billion, a PE ratio of 38.42, a PEG ratio of 5.81 and a beta of 0.74. The firm has a 50 day moving average of $249.12 and a 200-day moving average of $231.01. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $266.45.

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, topping 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, equities research analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.71%. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Oppenheimer started coverage on International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Wedbush assumed coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating for the company. Finally, Bank of America lifted their price target on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $231.44.

About International Business Machines

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.