Congress Wealth Management LLC DE Purchases 1,987 Shares of International Business Machines Co. (NYSE:IBM)

Congress Wealth Management LLC DE lifted its holdings in International Business Machines Co. (NYSE:IBM) by 10.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,730 shares of the technology company’s stock after purchasing an additional 1,987 shares during the period. Congress Wealth Management LLC DE’s holdings in International Business Machines were worth $4,777,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in International Business Machines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock worth $20,189,023,000 after acquiring an additional 1,539,888 shares during the period. State Street Corp increased its stake in shares of 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 purchasing an additional 1,200,803 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in International Business Machines by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company’s stock worth $1,465,223,000 after purchasing an additional 126,547 shares during the period. FMR LLC lifted its position in International Business Machines by 6.0% during the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after purchasing an additional 294,276 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in International Business Machines during the fourth quarter valued at about $592,746,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In other International Business Machines 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 completion of the transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by insiders.

International Business Machines Price Performance

NYSE:IBM opened at $250.01 on Wednesday. The firm has a market capitalization of $231.83 billion, a price-to-earnings ratio of 39.00, a PEG ratio of 5.81 and a beta of 0.74. 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 business has a 50 day simple moving average of $248.04 and a 200-day simple moving average of $230.76. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results 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%. Equities analysts forecast that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently commented on IBM shares. Sanford C. Bernstein raised their price objective on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. BMO Capital Markets lifted their target price on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their price target on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, Oppenheimer started coverage on International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average target price of $231.44.

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.