King Wealth Management Group Has $509,000 Stock Position in International Business Machines Co. (NYSE:IBM)

King Wealth Management Group reduced its position in International Business Machines Co. (NYSE:IBM) by 35.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,314 shares of the technology company’s stock after selling 1,253 shares during the period. King Wealth Management Group’s holdings in International Business Machines were worth $509,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Pettinga Financial Advisors LLC purchased a new position in shares of International Business Machines during the third quarter valued at $221,000. United Bank boosted its position in International Business Machines by 53.3% during the 3rd quarter. United Bank now owns 5,628 shares of the technology company’s stock worth $1,244,000 after acquiring an additional 1,956 shares during the period. Harbour Investments Inc. increased its holdings in shares of International Business Machines by 12.4% in the 3rd quarter. Harbour Investments Inc. now owns 6,205 shares of the technology company’s stock valued at $1,372,000 after purchasing an additional 686 shares during the period. Aptus Capital Advisors LLC increased its holdings in shares of International Business Machines by 89.7% in the 3rd quarter. Aptus Capital Advisors LLC now owns 15,006 shares of the technology company’s stock valued at $3,318,000 after purchasing an additional 7,095 shares during the period. Finally, Cable Hill Partners LLC lifted its position in shares of International Business Machines by 6.3% in the third quarter. Cable Hill Partners LLC now owns 6,154 shares of the technology company’s stock worth $1,361,000 after purchasing an additional 364 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.07% of the company’s stock.

International Business Machines Stock Down 1.6 %

IBM stock opened at $245.67 on Friday. 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 50-day moving average of $243.72 and a two-hundred day moving average of $227.70. The stock has a market capitalization of $227.80 billion, a price-to-earnings ratio of 38.33, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, equities research 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 announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.72%. The ex-dividend date was Monday, February 10th. International Business Machines’s payout ratio is currently 104.21%.

Analyst Upgrades and Downgrades

IBM has been the topic of several research reports. Sanford C. Bernstein upped their price objective on shares of 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. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Oppenheimer initiated coverage on International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, UBS Group increased their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.