NewEdge Wealth LLC Has $38.09 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

NewEdge Wealth LLC boosted its position in International Business Machines Co. (NYSE:IBM) by 7.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 173,277 shares of the technology company’s stock after purchasing an additional 11,954 shares during the period. NewEdge Wealth LLC’s holdings in International Business Machines were worth $38,092,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pettinga Financial Advisors LLC bought a new stake in International Business Machines in the 3rd quarter valued at $221,000. Pallas Capital Advisors LLC raised its position in shares of International Business Machines by 2.3% in the third quarter. Pallas Capital Advisors LLC now owns 4,610 shares of the technology company’s stock valued at $1,007,000 after purchasing an additional 104 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in shares of International Business Machines by 132.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,301 shares of the technology company’s stock worth $730,000 after buying an additional 1,881 shares during the last quarter. Gateway Wealth Partners LLC boosted its holdings in shares of International Business Machines by 4.4% during the 3rd quarter. Gateway Wealth Partners LLC now owns 1,339 shares of the technology company’s stock worth $296,000 after buying an additional 57 shares during the period. Finally, Valmark Advisers Inc. grew its stake in International Business Machines by 6.8% in the 3rd quarter. Valmark Advisers Inc. now owns 4,651 shares of the technology company’s stock valued at $1,028,000 after buying an additional 297 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $255.62 on Thursday. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72. The stock has a market capitalization of $236.35 billion, a price-to-earnings ratio of 39.88, a price-to-earnings-growth ratio of 5.81 and a beta of 0.76. 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 company’s 50 day simple moving average is $237.20 and its 200 day simple moving average is $223.48.

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, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, research analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.61%. The ex-dividend date is Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Wall Street Analysts Forecast Growth

IBM has been the subject of several research reports. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Wedbush initiated coverage on International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating for the company. BMO Capital Markets upped their price objective on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. UBS Group lifted their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, International Business Machines has an average rating of “Hold” and an average price target of $231.44.

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.