MGB Wealth Management LLC Acquires 122 Shares of International Business Machines Co. (NYSE:IBM)

MGB Wealth Management LLC increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 11.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,161 shares of the technology company’s stock after buying an additional 122 shares during the quarter. MGB Wealth Management LLC’s holdings in International Business Machines were worth $256,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Meeder Asset Management Inc. lifted its holdings in shares of International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after acquiring an additional 166 shares during the last quarter. Brady Martz Wealth Solutions LLC acquired a new position in International Business Machines during the 4th quarter worth approximately $1,940,000. Tranquilli Financial Advisor LLC bought a new position in International Business Machines in the 4th quarter valued at approximately $373,000. Philip James Wealth Mangement LLC acquired a new stake in International Business Machines in the third quarter valued at approximately $5,117,000. Finally, Nordea Investment Management AB grew its stake in shares of International Business Machines by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after buying an additional 4,625 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IBM has been the subject of several analyst reports. BMO Capital Markets raised their target price on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Wedbush initiated coverage on International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating for the company. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Jefferies Financial Group raised their price target on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, Sanford C. Bernstein upped their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Two equities 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $231.44.

International Business Machines Price Performance

Shares of NYSE IBM opened at $255.86 on Thursday. The firm has a market capitalization of $236.58 billion, a P/E ratio of 39.92, a P/E/G ratio of 5.57 and a beta of 0.76. The firm’s 50-day moving average price is $230.70 and its 200-day moving average price is $218.22. 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 1-year low of $162.62 and a 1-year high of $265.72.

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, 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%. Equities research analysts anticipate that International Business Machines Co. will post 10.75 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

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.