RKL Wealth Management LLC Has $3.04 Million Stock Position in International Business Machines Co. (NYSE:IBM)

RKL Wealth Management LLC boosted its stake in shares of International Business Machines Co. (NYSE:IBM) by 36.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,821 shares of the technology company’s stock after purchasing an additional 3,686 shares during the quarter. RKL Wealth Management LLC’s holdings in International Business Machines were worth $3,038,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of IBM. Pettinga Financial Advisors LLC acquired a new position in International Business Machines during the 3rd quarter valued at $221,000. Blake Schutter Theil Wealth Advisors LLC acquired a new position in International Business Machines during the 3rd quarter valued at $268,000. Principal Financial Group Inc. raised its stake in International Business Machines by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,094,106 shares of the technology company’s stock valued at $241,885,000 after purchasing an additional 46,951 shares during the last quarter. Hara Capital LLC acquired a new position in International Business Machines during the 3rd quarter valued at $29,000. Finally, Consolidated Planning Corp acquired a new position in shares of International Business Machines in the 3rd quarter valued at $5,338,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on IBM shares. Oppenheimer started coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective for the company. Bank of America increased their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Wedbush started coverage on shares of International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating for the company. Morgan Stanley increased their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, UBS Group increased their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Up 5.2 %

Shares of NYSE:IBM opened at $261.67 on Friday. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $265.72. The company’s 50-day moving average price is $241.29 and its two-hundred day moving average price is $226.20. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The firm has a market cap of $242.63 billion, a P/E ratio of 40.82, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS 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%. As a group, research analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

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 issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.07% of the company’s stock.

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.