3,550 Shares in International Business Machines Co. (NYSE:IBM) Bought by Selway Asset Management

Selway Asset Management bought a new stake in International Business Machines Co. (NYSE:IBM) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 3,550 shares of the technology company’s stock, valued at approximately $780,000.

A number of other large investors have also added to or reduced their stakes in IBM. Compass Financial Services Inc purchased a new position in shares of International Business Machines in the 4th quarter worth approximately $26,000. Vision Financial Markets LLC purchased a new position in International Business Machines in the fourth quarter worth $31,000. Avondale Wealth Management increased its position in shares of 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 in the last quarter. Valued Wealth Advisors LLC lifted its holdings in shares of 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 last quarter. Finally, Rialto Wealth Management LLC purchased a new position in International Business Machines during the 4th quarter worth $35,000. 58.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on IBM shares. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Jefferies Financial Group dropped their target price on shares of International Business Machines from $270.00 to $265.00 and set a “hold” rating on the stock in a research report on Monday. Sanford C. Bernstein raised 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 report on Friday, January 3rd. Bank of America boosted their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. raised 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target of $231.13.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated 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 sale, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

International Business Machines Stock Down 0.2 %

IBM opened at $249.90 on Thursday. The company has a fifty day moving average of $251.05 and a two-hundred day moving average of $232.26. The stock has a market capitalization of $231.72 billion, a price-to-earnings ratio of 38.99, a PEG ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $266.45. 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 issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) 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%. On average, research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.67%. The ex-dividend date was Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

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.