Essential Planning LLC. Invests $3.33 Million in International Business Machines Co. (NYSE:IBM)

Essential Planning LLC. purchased a new position in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,950 shares of the technology company’s stock, valued at approximately $3,332,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Liberty Wealth Management LLC grew its holdings in shares of International Business Machines by 12.3% during the fourth quarter. Liberty Wealth Management LLC now owns 5,300 shares of the technology company’s stock worth $1,165,000 after purchasing an additional 580 shares during the last quarter. Truvestments Capital LLC boosted its holdings in International Business Machines by 2.4% in the fourth quarter. Truvestments Capital LLC now owns 2,639 shares of the technology company’s stock valued at $580,000 after acquiring an additional 62 shares during the last quarter. Hopwood Financial Services Inc. bought a new stake in International Business Machines in the fourth quarter valued at approximately $281,000. Farther Finance Advisors LLC boosted its holdings in International Business Machines by 10.1% in the fourth quarter. Farther Finance Advisors LLC now owns 18,228 shares of the technology company’s stock valued at $4,007,000 after acquiring an additional 1,668 shares during the last quarter. Finally, Parkworth Wealth Management Inc. bought a new stake in International Business Machines in the fourth quarter valued at approximately $57,000. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Morgan Stanley upped their target price on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Wedbush initiated coverage on International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. UBS Group boosted their price target on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Finally, Bank of America boosted their price target on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $231.44.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $249.72 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $266.45. The stock’s 50 day moving average is $243.21 and its 200-day moving average is $227.58. The firm has a market capitalization of $231.56 billion, a price-to-earnings ratio of 38.96, a PEG ratio of 5.81 and a beta of 0.74.

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 analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Sell-side analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.67%. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.07% of the stock is currently owned by corporate insiders.

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.