Evercore Wealth Management LLC Purchases 1,740 Shares of International Business Machines Co. (NYSE:IBM)

Evercore Wealth Management LLC lifted its position in International Business Machines Co. (NYSE:IBM) by 3.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 54,783 shares of the technology company’s stock after acquiring an additional 1,740 shares during the period. Evercore Wealth Management LLC’s holdings in International Business Machines were worth $12,043,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in IBM. JBR Co Financial Management Inc lifted its position in International Business Machines by 0.6% in the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock valued at $1,405,000 after acquiring an additional 40 shares in the last quarter. Wealth Dimensions Group Ltd. raised its stake in shares of International Business Machines by 1.0% in the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock worth $873,000 after purchasing an additional 40 shares during the last quarter. Schechter Investment Advisors LLC lifted its holdings in shares of International Business Machines by 0.7% during the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock valued at $1,396,000 after purchasing an additional 43 shares in the last quarter. Titleist Asset Management LLC boosted its position in shares of International Business Machines by 3.1% during the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock valued at $315,000 after buying an additional 43 shares during the last quarter. Finally, Callan Capital LLC increased its holdings in International Business Machines by 2.4% in the 4th quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock worth $411,000 after buying an additional 44 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 several research analyst reports. 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. 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 report on Monday, March 31st. Wedbush began coverage on shares of International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating for the company. Royal Bank of Canada restated an “outperform” rating and issued a $276.00 price target on shares of International Business Machines in a research note on Monday, April 14th. Finally, Oppenheimer began coverage on International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $232.75.

International Business Machines Trading Up 2.1 %

Shares of NYSE:IBM opened at $241.28 on Wednesday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45. The company has a market cap of $223.73 billion, a PE ratio of 37.64, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67. The stock has a 50 day moving average of $246.87 and a 200 day moving average of $233.79. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data 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 net margin of 9.60% and a return on equity of 38.99%. As a group, equities research analysts expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.77%. International Business Machines’s payout ratio is 104.21%.

Insider Transactions at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the business’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 directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.18% of the company’s stock.

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.