International Business Machines Co. (NYSE:IBM) is Beacon Harbor Wealth Advisors Inc.’s 10th Largest Position

Beacon Harbor Wealth Advisors Inc. increased its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 40,122 shares of the technology company’s stock after buying an additional 317 shares during the quarter. International Business Machines accounts for about 2.1% of Beacon Harbor Wealth Advisors Inc.’s investment portfolio, making the stock its 10th biggest holding. Beacon Harbor Wealth Advisors Inc.’s holdings in International Business Machines were worth $8,820,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IBM. Townsend Asset Management Corp NC ADV boosted its holdings in shares of International Business Machines by 4.3% in the 4th quarter. Townsend Asset Management Corp NC ADV now owns 1,474 shares of the technology company’s stock valued at $324,000 after acquiring an additional 61 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of International Business Machines in the 4th quarter valued at about $592,746,000. Promus Capital LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth about $48,000. First Business Financial Services Inc. acquired a new stake in International Business Machines during the fourth quarter worth about $226,000. Finally, Vision Financial Markets LLC purchased a new position in International Business Machines during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $248.95 on Tuesday. The stock has a market capitalization of $230.19 billion, a price-to-earnings ratio of 38.84, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $265.72. The firm has a 50-day simple moving average of $229.76 and a 200-day simple moving average of $217.38. 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 (NYSE:IBM) last released 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 net margin of 9.60% and a return on equity of 38.99%. On average, equities analysts predict that International Business Machines Co. will post 10.75 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.68%. The ex-dividend date is Monday, February 10th. International Business Machines’s payout ratio is currently 104.21%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on IBM shares. UBS Group upped their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Sanford C. Bernstein raised their price target on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Jefferies Financial Group upped their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Stifel Nicolaus raised their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their price target on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and a consensus price target of $231.44.

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.