McKinley Carter Wealth Services Inc. acquired a new position in shares of International Business Machines Co. (NYSE:IBM – Free Report) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 945 shares of the technology company’s stock, valued at approximately $208,000.
Other hedge funds have also added to or reduced their stakes in the company. Twelve Points Wealth Management LLC raised its holdings in shares of International Business Machines by 9.9% in the 4th quarter. Twelve Points Wealth Management LLC now owns 13,500 shares of the technology company’s stock worth $2,968,000 after purchasing an additional 1,221 shares during the period. Foster Group Inc. raised its stake in shares of International Business Machines by 2.4% in the fourth quarter. Foster Group Inc. now owns 2,025 shares of the technology company’s stock valued at $445,000 after buying an additional 48 shares during the period. Baker Boyer National Bank lifted its position in shares of International Business Machines by 12.0% during the 4th quarter. Baker Boyer National Bank now owns 1,866 shares of the technology company’s stock valued at $410,000 after buying an additional 200 shares during the last quarter. Capital Investment Counsel LLC grew its stake in shares of International Business Machines by 5.6% during the 4th quarter. Capital Investment Counsel LLC now owns 28,917 shares of the technology company’s stock worth $6,357,000 after acquiring an additional 1,526 shares during the period. Finally, SteelPeak Wealth LLC raised its stake in International Business Machines by 56.7% in the 4th quarter. SteelPeak Wealth LLC now owns 48,295 shares of the technology company’s stock valued at $10,617,000 after acquiring an additional 17,473 shares during the period. Institutional investors own 58.96% of the company’s stock.
International Business Machines Stock Performance
NYSE:IBM opened at $229.13 on Thursday. The company has a market capitalization of $211.86 billion, a price-to-earnings ratio of 33.35, a PEG ratio of 4.78 and a beta of 0.74. The business has a 50 day moving average of $224.95 and a 200 day moving average of $213.44. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $239.35.
International Business Machines Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a $1.67 dividend. The ex-dividend date is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.92%. International Business Machines’s payout ratio is currently 97.23%.
Insider Activity
In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.07% of the company’s stock.
Wall Street Analyst Weigh In
IBM has been the subject of several recent research reports. Morgan Stanley reduced their target price on shares of International Business Machines from $222.00 to $217.00 and set an “equal weight” rating for the company in a research note on Tuesday. UBS Group increased their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Monday. Jefferies Financial Group raised their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Finally, Bank of America upped their price target on International Business Machines from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $220.40.
Read Our Latest Stock Analysis on International Business Machines
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.
Featured Articles
- Five stocks we like better than International Business Machines
- TSX Venture Exchange (Formerly Canadian Venture Exchange)
- Coinbase Gains Momentum on App Store—What It Means for the Stock
- Upcoming IPO Stock Lockup Period, Explained
- How to Short Sell Stocks Like a Pro: Strategies and Tips
- What does consumer price index measure?
- 3 Steel Stocks Soaring After Tariff Announcements
Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Co. (NYSE:IBM – Free Report).
Receive News & Ratings for International Business Machines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Business Machines and related companies with MarketBeat.com's FREE daily email newsletter.