Parkworth Wealth Management Inc. Takes $57,000 Position in International Business Machines Co. (NYSE:IBM)

Parkworth Wealth Management Inc. bought a new position in International Business Machines Co. (NYSE:IBM) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 258 shares of the technology company’s stock, valued at approximately $57,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in International Business Machines in the 4th quarter valued at approximately $592,746,000. Holocene Advisors LP acquired a new position in shares of International Business Machines in the third quarter worth $573,306,000. State Street Corp lifted its position in shares of International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. KBC Group NV lifted its position in shares of International Business Machines by 90.4% during the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after purchasing an additional 800,930 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its position in shares of International Business Machines by 23,311.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock worth $153,262,000 after purchasing an additional 694,204 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of research reports. UBS Group boosted their price target on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Morgan Stanley upped their target price on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Oppenheimer began coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target on the stock. Finally, BMO Capital Markets upped their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $231.44.

International Business Machines Price Performance

International Business Machines stock opened at $249.03 on Wednesday. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45. The firm has a fifty day moving average of $242.61 and a 200-day moving average of $227.42. The firm has a market capitalization of $230.92 billion, a P/E ratio of 38.85, a PEG ratio of 5.81 and a beta of 0.74. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This trade represents 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. Company insiders own 0.07% of the company’s stock.

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.