Modern Wealth Management LLC Raises Stock Holdings in International Business Machines Co. (NYSE:IBM)

Modern Wealth Management LLC boosted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 46.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,493 shares of the technology company’s stock after acquiring an additional 4,572 shares during the quarter. Modern Wealth Management LLC’s holdings in International Business Machines were worth $3,186,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of IBM. Raymond James Financial Inc. purchased a new stake in shares of International Business Machines during the fourth quarter valued at $592,746,000. Holocene Advisors LP bought a new stake in International Business Machines during the 3rd quarter valued at about $573,306,000. Vanguard Group Inc. boosted its position in International Business Machines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after buying an additional 1,539,888 shares during the period. State Street Corp grew its stake in International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after acquiring an additional 1,200,803 shares in the last quarter. Finally, KBC Group NV grew its stake in International Business Machines by 90.4% in the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after acquiring an additional 800,930 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. BMO Capital Markets boosted their price target on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Jefferies Financial Group lifted their price objective on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Morgan Stanley upped their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Performance

Shares of IBM stock opened at $250.01 on Wednesday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $266.45. The business’s fifty day simple moving average is $248.04 and its 200-day simple moving average is $230.76. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company has a market cap of $231.83 billion, a PE ratio of 39.00, a PEG ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) 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%. Analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

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 $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

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.