Kestra Advisory Services LLC Buys 13,638 Shares of International Business Machines Co. (NYSE:IBM)

Kestra Advisory Services LLC raised its holdings in shares of International Business Machines Co. (NYSE:IBM) by 7.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 190,886 shares of the technology company’s stock after acquiring an additional 13,638 shares during the quarter. Kestra Advisory Services LLC’s holdings in International Business Machines were worth $41,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its position in 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 buying an additional 166 shares during the period. Blue Zone Wealth Advisors LLC purchased a new stake in International Business Machines in the fourth quarter worth approximately $242,000. Brady Martz Wealth Solutions LLC purchased a new stake in International Business Machines in the fourth quarter worth approximately $1,940,000. Tranquilli Financial Advisor LLC purchased a new stake in International Business Machines in the fourth quarter worth approximately $373,000. Finally, Truist Financial Corp raised its position in International Business Machines by 6.5% in the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after acquiring an additional 49,591 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

International Business Machines stock opened at $248.15 on Friday. The stock has a 50 day moving average of $244.23 and a 200-day moving average of $228.05. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. The stock has a market cap of $230.10 billion, a P/E ratio of 38.71, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. 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 (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping 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%. On average, analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.69%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IBM. Jefferies Financial Group upped their price target on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Bank of America raised their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Sanford C. Bernstein raised their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. UBS Group lifted their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. Finally, BMO Capital Markets lifted their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $231.44.

Insider Activity at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is owned by insiders.

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.