Elevatus Welath Management Has $4.97 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Elevatus Welath Management reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 30.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,584 shares of the technology company’s stock after selling 10,107 shares during the period. International Business Machines accounts for approximately 1.7% of Elevatus Welath Management’s holdings, making the stock its 17th biggest position. Elevatus Welath Management’s holdings in International Business Machines were worth $4,965,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. JBR Co Financial Management Inc boosted its holdings in shares of International Business Machines by 0.6% during the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock worth $1,405,000 after acquiring an additional 40 shares during the period. Schechter Investment Advisors LLC lifted its holdings in International Business Machines by 0.7% during the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock worth $1,396,000 after purchasing an additional 43 shares during the last quarter. Titleist Asset Management LLC boosted its stake in International Business Machines by 3.1% in the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock valued at $315,000 after purchasing an additional 43 shares during the period. Callan Capital LLC grew 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 valued at $411,000 after buying an additional 44 shares in the last quarter. Finally, Marks Group Wealth Management Inc increased its position in International Business Machines by 0.4% during the 4th quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock worth $2,292,000 after buying an additional 45 shares during the period. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the topic of several research reports. Jefferies Financial Group decreased their price target on shares of International Business Machines from $270.00 to $265.00 and set a “hold” rating on the stock in a research note on Monday, March 31st. BMO Capital Markets raised their target price on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Sanford C. Bernstein boosted their price target on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Wedbush started coverage on International Business Machines in a research note on Monday, February 3rd. They set an “outperform” rating on the stock. Finally, Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $232.75.

International Business Machines Stock Performance

NYSE:IBM opened at $238.45 on Friday. The stock’s 50-day moving average is $247.61 and its 200-day moving average is $233.49. 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 Co. has a 1-year low of $162.62 and a 1-year high of $266.45. The stock has a market cap of $221.10 billion, a P/E ratio of 37.20, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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%. Equities research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.80%. International Business Machines’s payout ratio is 104.21%.

Insider Activity

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines 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 completion of the sale, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% 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.