NewEdge Wealth LLC Grows Holdings in International Business Machines Corporation $IBM

NewEdge Wealth LLC raised its position in International Business Machines Corporation (NYSE:IBM) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 198,269 shares of the technology company’s stock after buying an additional 6,816 shares during the period. International Business Machines accounts for 0.9% of NewEdge Wealth LLC’s investment portfolio, making the stock its 18th biggest holding. NewEdge Wealth LLC’s holdings in International Business Machines were worth $60,823,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in International Business Machines in the second quarter worth $2,011,122,000. Vanguard Group Inc. raised its stake in shares of International Business Machines by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock worth $28,019,274,000 after purchasing an additional 1,913,708 shares during the period. Laurel Wealth Advisors LLC raised its stake in shares of International Business Machines by 27,928.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,903,116 shares of the technology company’s stock worth $561,001,000 after purchasing an additional 1,896,326 shares during the period. Franklin Resources Inc. boosted its holdings in shares of International Business Machines by 45.8% in the 2nd quarter. Franklin Resources Inc. now owns 1,313,241 shares of the technology company’s stock worth $387,118,000 after buying an additional 412,574 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of International Business Machines by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 21,936,235 shares of the technology company’s stock worth $6,444,527,000 after buying an additional 400,131 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Transactions at International Business Machines

In other news, Director David N. Farr purchased 1,000 shares of International Business Machines stock in a transaction dated Friday, January 30th. The stock was purchased at an average cost of $304.00 per share, for a total transaction of $304,000.00. Following the transaction, the director directly owned 9,258 shares of the company’s stock, valued at approximately $2,814,432. This trade represents a 12.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by corporate insiders.

International Business Machines Price Performance

International Business Machines stock opened at $260.96 on Thursday. The firm has a market capitalization of $243.92 billion, a P/E ratio of 23.40, a PEG ratio of 2.59 and a beta of 0.69. International Business Machines Corporation has a one year low of $214.50 and a one year high of $324.90. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.96 and a quick ratio of 0.92. The business has a fifty day moving average price of $296.22 and a 200-day moving average price of $284.16.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 28th. The technology company reported $4.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.33 by $0.19. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.The business had revenue of $19.69 billion for the quarter, compared to analysts’ expectations of $19.23 billion. During the same quarter in the prior year, the firm posted $3.92 EPS. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, equities research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be paid a dividend of $1.68 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $6.72 annualized dividend and a yield of 2.6%. International Business Machines’s payout ratio is currently 60.27%.

Analysts Set New Price Targets

A number of research analysts have weighed in on IBM shares. Evercore boosted their target price on shares of International Business Machines from $330.00 to $345.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Jefferies Financial Group upped their price objective on International Business Machines from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Stifel Nicolaus raised their target price on International Business Machines from $325.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of International Business Machines in a research report on Thursday, January 22nd. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $350.00 price target on shares of International Business Machines in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, International Business Machines presently has an average rating of “Moderate Buy” and an average price target of $330.07.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.