Envestnet Portfolio Solutions Inc. Has $10.48 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Envestnet Portfolio Solutions Inc. reduced its position in International Business Machines Co. (NYSE:IBM) by 4.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 47,651 shares of the technology company’s stock after selling 2,471 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in International Business Machines were worth $10,475,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. grew its stake in shares of International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after purchasing an additional 166 shares during the period. Blue Zone Wealth Advisors LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth $242,000. Brady Martz Wealth Solutions LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth $1,940,000. Tranquilli Financial Advisor LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth $373,000. Finally, Truist Financial Corp grew its stake in shares of International Business Machines by 6.5% during the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after purchasing an additional 49,591 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction on Monday, March 3rd. The stock was 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.07% of the company’s stock.

International Business Machines Trading Up 1.0 %

IBM stock opened at $248.15 on Monday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company has a fifty day moving average price of $244.23 and a two-hundred day moving average price of $228.47. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45. The stock has a market cap of $230.10 billion, a price-to-earnings ratio of 38.71, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 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%. Equities analysts anticipate that International Business Machines Co. will post 10.78 EPS 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 given a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.69%. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on IBM shares. Bank of America lifted their price objective on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Wedbush assumed coverage on International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating for the company. Morgan Stanley boosted their price target on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. upped their price objective on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $231.44.

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.