Spartan Planning & Wealth Management Buys Shares of 1,687 International Business Machines Co. (NYSE:IBM)

Spartan Planning & Wealth Management purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,687 shares of the technology company’s stock, valued at approximately $371,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. boosted its stake in shares of International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of International Business Machines in the 2nd quarter valued at $7,160,000. Philip James Wealth Mangement LLC purchased a new stake in shares of International Business Machines during the 3rd quarter worth $5,117,000. Lord Abbett & CO. LLC bought a new stake in International Business Machines during the third quarter valued at about $24,761,000. Finally, Aljian Capital Management LLC purchased a new position in International Business Machines in the third quarter valued at about $611,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of recent analyst reports. Evercore ISI raised their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Stifel Nicolaus increased their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Bernstein Bank upped their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Finally, The Goldman Sachs Group raised their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $214.88.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.07% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE IBM traded up $2.19 during trading on Tuesday, reaching $224.86. 1,390,392 shares of the company traded hands, compared to its average volume of 2,658,326. International Business Machines Co. has a 12-month low of $157.88 and a 12-month high of $239.35. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The stock has a market cap of $207.92 billion, a P/E ratio of 32.73, a PEG ratio of 5.18 and a beta of 0.74. The firm’s fifty day simple moving average is $220.73 and its 200 day simple moving average is $208.12.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS 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 business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the prior year, the firm posted $2.20 EPS. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, research analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

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

International Business Machines Company 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.