SteelPeak Wealth LLC Raises Position in International Business Machines Co. (NYSE:IBM)

SteelPeak Wealth LLC lifted its stake in International Business Machines Co. (NYSE:IBM) by 56.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,295 shares of the technology company’s stock after purchasing an additional 17,473 shares during the period. SteelPeak Wealth LLC’s holdings in International Business Machines were worth $10,617,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of IBM. Hazlett Burt & Watson Inc. increased its holdings in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC bought a new position in shares of International Business Machines in the third quarter worth approximately $29,000. Avondale Wealth Management increased its stake in shares of International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares in the last quarter. Valued Wealth Advisors LLC raised its position in shares of International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after purchasing an additional 90 shares during the period. Finally, Modus Advisors LLC purchased a new position in shares of International Business Machines during the 4th quarter valued at $40,000. 58.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on 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 sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.07% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IBM has been the subject of a number of analyst reports. Stifel Nicolaus increased their price target on 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 lifted their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Bank of America boosted their price target on International Business Machines from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Monday. Finally, Sanford C. Bernstein boosted their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $220.40.

International Business Machines Stock Up 0.5 %

Shares of NYSE IBM opened at $225.34 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $239.35. The firm’s 50-day moving average price is $224.65 and its 200-day moving average price is $213.14. The stock has a market capitalization of $208.36 billion, a price-to-earnings ratio of 32.80, a P/E/G ratio of 4.78 and a beta of 0.74.

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.