Ritholtz Wealth Management Acquires 1,157 Shares of International Business Machines Co. (NYSE:IBM)

Ritholtz Wealth Management increased its stake in International Business Machines Co. (NYSE:IBM) by 10.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,753 shares of the technology company’s stock after purchasing an additional 1,157 shares during the period. Ritholtz Wealth Management’s holdings in International Business Machines were worth $2,584,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC raised its position in International Business Machines by 20,324.5% during the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after purchasing an additional 2,702,340 shares in the last quarter. Holocene Advisors LP bought a new position in shares of International Business Machines during the 3rd quarter valued at about $573,306,000. State Street Corp raised its holdings in shares of International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after buying an additional 1,200,803 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in International Business Machines by 306.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after buying an additional 1,056,759 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its position in International Business Machines by 587.1% during the third quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock valued at $134,262,000 after acquiring an additional 536,785 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is currently owned by insiders.

International Business Machines Stock Performance

International Business Machines stock opened at $224.73 on Friday. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $239.35. The stock’s 50 day simple moving average is $222.65 and its two-hundred day simple moving average is $210.31. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The stock has a market cap of $207.80 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 4.71 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.20 earnings per share. As a group, analysts expect that International Business Machines Co. will post 10.16 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were given a dividend of $1.67 per share. 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 (DPR) is currently 97.23%.

Analysts Set New Price Targets

IBM has been the subject of a number of research reports. Bank of America upped their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Sanford C. Bernstein lifted their price objective on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Morgan Stanley increased their target price on International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. UBS Group lifted their price target on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday. Finally, Stifel Nicolaus raised their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $215.81.

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.