Legacy Wealth Asset Management LLC Has $1.32 Million Position in International Business Machines Co. (NYSE:IBM)

Legacy Wealth Asset Management LLC decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,009 shares of the technology company’s stock after selling 229 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in International Business Machines were worth $1,321,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBM. Meeder Asset Management Inc. lifted its stake in shares of International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after buying an additional 166 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in International Business Machines during the second quarter worth approximately $7,160,000. Philip James Wealth Mangement LLC bought a new stake in shares of International Business Machines during the third quarter worth approximately $5,117,000. Nordea Investment Management AB grew its position in shares of International Business Machines by 6.5% in the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock valued at $16,615,000 after purchasing an additional 4,625 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of International Business Machines during the third quarter worth approximately $24,761,000. 58.96% of the stock is owned by institutional investors.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents 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. 0.07% of the stock is owned by insiders.

International Business Machines Trading Up 1.1 %

Shares of IBM opened at $222.54 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $239.35. The firm has a market cap of $205.77 billion, a price-to-earnings ratio of 32.39, a PEG ratio of 4.71 and a beta of 0.74. The business’s fifty day moving average is $222.47 and its 200-day moving average is $210.23.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the firm posted $2.20 earnings per share. Equities analysts anticipate that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio is 97.23%.

Analyst Ratings Changes

A number of research analysts have commented on IBM shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research note on Wednesday, October 2nd. Stifel Nicolaus lifted their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets increased their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Finally, StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $215.81.

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.