Sound Income Strategies LLC Purchases 4,984 Shares of International Business Machines Co. (NYSE:IBM)

Sound Income Strategies LLC boosted its position in shares of International Business Machines Co. (NYSE:IBM) by 4.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 116,631 shares of the technology company’s stock after buying an additional 4,984 shares during the quarter. International Business Machines makes up about 1.6% of Sound Income Strategies LLC’s holdings, making the stock its 15th biggest holding. Sound Income Strategies LLC’s holdings in International Business Machines were worth $25,639,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in IBM. Ellenbecker Investment Group boosted its position in shares of International Business Machines by 2.3% during the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after buying an additional 46 shares during the last quarter. Goldstein Advisors LLC lifted its stake in International Business Machines by 4.0% during the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after acquiring an additional 47 shares during the period. Vertex Planning Partners LLC boosted its holdings in shares of International Business Machines by 3.6% during the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock valued at $298,000 after acquiring an additional 47 shares during the last quarter. Forza Wealth Management LLC grew its stake in shares of International Business Machines by 0.4% in the fourth quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock worth $2,891,000 after acquiring an additional 47 shares during the period. Finally, Sollinda Capital Management LLC raised its holdings in shares of International Business Machines by 3.7% during the third quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.07% of the company’s stock.

International Business Machines Stock Performance

NYSE IBM opened at $225.63 on Friday. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $239.35. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a market cap of $208.63 billion, a price-to-earnings ratio of 32.84, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74. The business has a 50-day moving average price of $223.60 and a 200-day moving average price of $211.90.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.20 earnings per share. As a group, equities research analysts predict that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. UBS Group lifted their target price on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. increased their target price on International Business Machines from $227.00 to $233.00 and gave the company a “neutral” rating in a report on Thursday. Stifel Nicolaus boosted their price target on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group increased their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $220.73.

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.