Spartan Planning & Wealth Management Makes New Investment in International Business Machines Co. (NYSE:IBM)

Spartan Planning & Wealth Management bought a new stake in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,687 shares of the technology company’s stock, valued at approximately $371,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBM. Hazlett Burt & Watson Inc. increased its stake in shares of 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 stake in shares of International Business Machines in the 3rd quarter worth approximately $29,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of International Business Machines in the 2nd quarter worth approximately $36,000. Modus Advisors LLC bought a new position in International Business Machines during the 4th quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP bought a new stake in International Business Machines in the third quarter worth $43,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM traded up $2.19 during trading hours on Tuesday, hitting $224.86. The company’s stock had a trading volume of 1,390,392 shares, compared to its average volume of 2,658,326. International Business Machines Co. has a 12 month low of $157.88 and a 12 month high of $239.35. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The business’s 50-day moving average price is $220.73 and its 200-day moving average price is $208.12. The stock has a market cap of $207.92 billion, a price-to-earnings ratio of 32.73, a P/E/G ratio of 5.18 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter last year, the firm earned $2.20 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. Sell-side analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were given a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.97%. International Business Machines’s dividend payout ratio is presently 97.23%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on IBM shares. Bernstein Bank lifted their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group lifted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Morgan Stanley raised their price target on shares of International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Evercore ISI upped their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Finally, Bank of America lifted their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and an average price target of $214.88.

Insider Buying and Selling at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.07% 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.