Elevate Wealth Advisory Inc. Purchases Shares of 1,225 International Business Machines Co. (NYSE:IBM)

Elevate Wealth Advisory Inc. acquired a new position in shares of International Business Machines Co. (NYSE:IBM) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,225 shares of the technology company’s stock, valued at approximately $269,000.

Other hedge funds have also made changes to their positions in the company. United Bank lifted its position in shares of International Business Machines by 53.3% during the 3rd quarter. United Bank now owns 5,628 shares of the technology company’s stock worth $1,244,000 after buying an additional 1,956 shares during the last quarter. Quest Partners LLC boosted its stake in International Business Machines by 23,700.0% in the third quarter. Quest Partners LLC now owns 238 shares of the technology company’s stock valued at $53,000 after acquiring an additional 237 shares in the last quarter. Pathstone Holdings LLC grew its holdings in shares of International Business Machines by 3.2% during the third quarter. Pathstone Holdings LLC now owns 115,093 shares of the technology company’s stock worth $25,445,000 after purchasing an additional 3,558 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after purchasing an additional 166 shares in the last quarter. Finally, Thompson Davis & CO. Inc. purchased a new stake in shares of International Business Machines in the 3rd quarter valued at about $229,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on IBM shares. Jefferies Financial Group raised their price target on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Sanford C. Bernstein lifted their target price on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. upped their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research report on Monday, January 27th. Finally, Bank of America upped their target price on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and an average price target of $231.44.

Insider Activity at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.

International Business Machines Price Performance

International Business Machines stock opened at $252.54 on Thursday. The company has a market cap of $234.17 billion, a P/E ratio of 39.40, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45. The business has a fifty day moving average of $245.88 and a two-hundred day moving average of $229.33. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was 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.