Retirement Planning Group LLC NY Makes New $228,000 Investment in International Business Machines Co. (NYSE:IBM)

Retirement Planning Group LLC NY bought a new position in International Business Machines Co. (NYSE:IBM) during the 4th quarter, Holdings Channel.com reports. The fund bought 1,035 shares of the technology company’s stock, valued at approximately $228,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cache Advisors LLC purchased a new position in International Business Machines in the fourth quarter worth about $305,000. Pinney & Scofield Inc. purchased a new position in International Business Machines in the fourth quarter worth about $181,000. Parr Mcknight Wealth Management Group LLC purchased a new position in shares of International Business Machines during the 4th quarter valued at about $705,000. Pacific Point Advisors LLC purchased a new position in shares of International Business Machines during the 4th quarter valued at about $251,000. Finally, Strait & Sound Wealth Management LLC lifted its position in shares of International Business Machines by 1.3% during the 4th quarter. Strait & Sound Wealth Management LLC now owns 6,986 shares of the technology company’s stock valued at $1,536,000 after buying an additional 89 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wall Street Zen cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday. Oppenheimer began coverage on International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target on the stock. Wedbush reissued an “outperform” rating and issued a $300.00 price target on shares of International Business Machines in a report on Wednesday, May 7th. Bank of America boosted their price target on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada boosted their price target on International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given 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 an average price target of $249.06.

International Business Machines Stock Up 0.2%

Shares of IBM opened at $258.79 on Friday. The stock has a market capitalization of $240.52 billion, a price-to-earnings ratio of 40.37, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a 1 year low of $163.53 and a 1 year high of $269.28. The business’s 50 day simple moving average is $245.13 and its 200-day simple moving average is $238.19. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 EPS. As a group, equities analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.60%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is currently 115.66%.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 45,007 shares of the company’s stock, 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. Corporate 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.