Rockbridge Investment Management LCC Boosts Holdings in International Business Machines Co. (NYSE:IBM)

Rockbridge Investment Management LCC lifted its stake in shares of International Business Machines Co. (NYSE:IBM) by 3.7% during the 4th quarter, HoldingsChannel reports. The fund owned 1,823 shares of the technology company’s stock after acquiring an additional 65 shares during the period. Rockbridge Investment Management LCC’s holdings in International Business Machines were worth $401,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Blue Zone Wealth Advisors LLC acquired a new stake in International Business Machines during the 4th quarter worth approximately $242,000. Brady Martz Wealth Solutions LLC purchased a new position in shares of International Business Machines in the 4th quarter valued at $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in shares of International Business Machines during the 4th quarter valued at $373,000. Truist Financial Corp increased its holdings in International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after purchasing an additional 49,591 shares in the last quarter. Finally, Nordea Investment Management AB lifted 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 purchasing an additional 4,625 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Bank of America increased their target price on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. BMO Capital Markets upped their price target on shares of 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. Morgan Stanley lifted their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, Wedbush assumed coverage on International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $231.44.

International Business Machines Stock Performance

Shares of IBM stock opened at $250.26 on Thursday. The company has a 50-day simple moving average of $248.65 and a 200 day simple moving average of $230.90. The company has a market capitalization of $232.06 billion, a price-to-earnings ratio of 39.04, a PEG ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. 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 released its earnings results 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%. On average, sell-side analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.67%. International Business Machines’s payout ratio is 104.21%.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company’s stock.

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.