Sierra Summit Advisors LLC Acquires 3,324 Shares of International Business Machines Co. (NYSE:IBM)

Sierra Summit Advisors LLC lifted its stake in International Business Machines Co. (NYSE:IBM) by 29.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,454 shares of the technology company’s stock after purchasing an additional 3,324 shares during the period. Sierra Summit Advisors LLC’s holdings in International Business Machines were worth $3,177,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. United Bank grew its position in shares of International Business Machines by 53.3% during the 3rd quarter. United Bank now owns 5,628 shares of the technology company’s stock worth $1,244,000 after buying an additional 1,956 shares in the last quarter. Wellington Management Group LLP grew its holdings in International Business Machines by 5.0% during the 3rd quarter. Wellington Management Group LLP now owns 227,815 shares of the technology company’s stock worth $50,365,000 after acquiring an additional 10,862 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in International Business Machines by 11.4% during the 3rd quarter. EP Wealth Advisors LLC now owns 35,081 shares of the technology company’s stock worth $7,756,000 after acquiring an additional 3,600 shares in the last quarter. Orion Portfolio Solutions LLC increased its position in International Business Machines by 4.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 49,678 shares of the technology company’s stock valued at $10,983,000 after purchasing an additional 2,187 shares during the period. Finally, Delos Wealth Advisors LLC increased its position in International Business Machines by 13.5% during the 3rd quarter. Delos Wealth Advisors LLC now owns 4,200 shares of the technology company’s stock valued at $929,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the topic of a number of recent research reports. Oppenheimer assumed coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective on the stock. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Bank of America boosted their price target on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Sanford C. Bernstein raised their price objective on 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. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $231.13.

International Business Machines Trading Down 6.6 %

NYSE:IBM opened at $227.31 on Monday. The company has a market capitalization of $210.78 billion, a P/E ratio of 35.46, a PEG ratio of 5.81 and a beta of 0.67. 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 $266.45. The firm has a fifty day simple moving average of $251.46 and a 200-day simple moving average of $232.66.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share 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%. On average, equities research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.94%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by insiders.

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.