International Business Machines Co. (NYSE:IBM) Shares Purchased by Sandy Cove Advisors LLC

Sandy Cove Advisors LLC boosted its stake in shares of International Business Machines Co. (NYSE:IBM) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,023 shares of the technology company’s stock after buying an additional 118 shares during the quarter. Sandy Cove Advisors LLC’s holdings in International Business Machines were worth $665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in IBM. Ellenbecker Investment Group boosted its holdings in shares of International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after buying an additional 46 shares during the period. Goldstein Advisors LLC lifted its holdings in International Business Machines by 4.0% in the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after acquiring an additional 47 shares during the last quarter. Vertex Planning Partners LLC boosted its stake in International Business Machines by 3.6% in the third quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock valued at $298,000 after acquiring an additional 47 shares during the period. Forza Wealth Management LLC lifted its holdings in shares of International Business Machines by 0.4% in the 4th quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock worth $2,891,000 after purchasing an additional 47 shares during the last quarter. Finally, Sollinda Capital Management LLC boosted its position in International Business Machines by 3.7% during the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after purchasing an additional 49 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $224.73 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $239.35. The stock has a market capitalization of $207.80 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 4.71 and a beta of 0.74. The stock’s fifty day simple moving average is $222.87 and its 200 day simple moving average is $210.66.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.20 earnings per share. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.16 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Bank of America raised their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. 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. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. BMO Capital Markets lifted their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Finally, DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $215.81.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is owned by corporate insiders.

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.