Apollon Wealth Management LLC Grows Stock Position in International Business Machines Co. (NYSE:IBM)

Apollon Wealth Management LLC lifted its stake in International Business Machines Co. (NYSE:IBM) by 15.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,119 shares of the technology company’s stock after buying an additional 7,472 shares during the quarter. Apollon Wealth Management LLC’s holdings in International Business Machines were worth $12,117,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Hazlett Burt & Watson Inc. raised its holdings in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares during the period. Hara Capital LLC purchased a new position in shares of International Business Machines during the 3rd quarter valued at approximately $29,000. Avondale Wealth Management grew its stake in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares during the period. Valued Wealth Advisors LLC increased its holdings in International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after acquiring an additional 90 shares in the last quarter. Finally, Modus Advisors LLC acquired a new position in International Business Machines during the fourth quarter worth $40,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wedbush started coverage on International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. 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 research note on Wednesday, October 16th. Sanford C. Bernstein increased their target price on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Finally, Morgan Stanley raised their target price 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $225.53.

International Business Machines Trading Down 0.4 %

NYSE:IBM opened at $252.31 on Friday. The stock has a fifty day moving average price of $229.26 and a 200 day moving average price of $216.45. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $265.72. The firm has a market cap of $233.30 billion, a PE ratio of 39.36, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Sell-side analysts anticipate that International Business Machines Co. will post 10.75 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.65%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

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.