Wealthstar Advisors LLC Makes New Investment in International Business Machines Co. (NYSE:IBM)

Wealthstar Advisors LLC bought a new position in shares of International Business Machines Co. (NYSE:IBM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,157 shares of the technology company’s stock, valued at approximately $694,000.

Several other institutional investors have also recently modified their holdings of IBM. Ellenbecker Investment Group raised its stake in International Business Machines by 2.3% during the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after purchasing an additional 46 shares during the period. First Affirmative Financial Network grew its position in International Business Machines by 1.5% during the fourth quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company’s stock valued at $687,000 after acquiring an additional 46 shares during the period. Goldstein Advisors LLC increased its stake in International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after acquiring an additional 47 shares during the last quarter. Vertex Planning Partners LLC raised its holdings in shares of International Business Machines by 3.6% in the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock worth $298,000 after purchasing an additional 47 shares during the period. Finally, Forza Wealth Management LLC grew its holdings in shares of International Business Machines by 0.4% during the 4th quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock worth $2,891,000 after purchasing an additional 47 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Sanford C. Bernstein raised their price target on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Wedbush initiated coverage on shares of International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating for the company. Finally, Bank of America increased their price target on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $225.53.

International Business Machines Trading Down 0.4 %

Shares of NYSE:IBM opened at $252.31 on Monday. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The company has a market cap of $233.30 billion, a PE ratio of 39.36, a P/E/G ratio of 5.57 and a beta of 0.76. The company’s 50-day moving average price is $229.76 and its 200 day moving average price is $217.15.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Sell-side analysts anticipate that International Business Machines Co. will post 10.75 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

International Business Machines Company 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.