International Business Machines Co. (NYSE:IBM) Shares Bought by Smith Salley Wealth Management

Smith Salley Wealth Management grew its position in International Business Machines Co. (NYSE:IBM) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,294 shares of the technology company’s stock after acquiring an additional 121 shares during the period. Smith Salley Wealth Management’s holdings in International Business Machines were worth $2,043,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in IBM. Massachusetts Financial Services Co. MA raised its position in International Business Machines by 13.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 77,189 shares of the technology company’s stock worth $13,350,000 after acquiring an additional 9,155 shares in the last quarter. Ieq Capital LLC increased its holdings in shares of International Business Machines by 9.8% in the 2nd quarter. Ieq Capital LLC now owns 40,278 shares of the technology company’s stock valued at $6,966,000 after purchasing an additional 3,600 shares in the last quarter. Bridges Investment Management Inc. lifted its stake in shares of International Business Machines by 46.3% in the second quarter. Bridges Investment Management Inc. now owns 12,438 shares of the technology company’s stock valued at $2,151,000 after purchasing an additional 3,936 shares during the period. Hollencrest Capital Management boosted its holdings in International Business Machines by 35.2% during the second quarter. Hollencrest Capital Management now owns 938 shares of the technology company’s stock worth $162,000 after buying an additional 244 shares in the last quarter. Finally, Sei Investments Co. grew its position in International Business Machines by 18.6% during the second quarter. Sei Investments Co. now owns 250,229 shares of the technology company’s stock worth $43,276,000 after buying an additional 39,212 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Bank of America upped their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research note on Wednesday, October 2nd. The Goldman Sachs Group increased their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Bernstein Bank lifted their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus target price of $215.81.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.07% of the stock is currently owned by company insiders.

International Business Machines Trading Up 0.9 %

Shares of International Business Machines stock opened at $224.73 on Friday. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $239.35. The business’s fifty day moving average is $222.87 and its two-hundred day moving average is $210.66. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a market cap of $207.80 billion, a PE ratio of 32.71, a P/E/G ratio of 4.71 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the prior year, the business posted $2.20 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. Analysts anticipate that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.97%. International Business Machines’s payout ratio is 97.23%.

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.