International Business Machines Co. (NYSE:IBM) Shares Purchased by Tower Wealth Partners Inc.

Tower Wealth Partners Inc. grew its position in shares of International Business Machines Co. (NYSE:IBM) by 1.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,376 shares of the technology company’s stock after purchasing an additional 45 shares during the quarter. Tower Wealth Partners Inc.’s holdings in International Business Machines were worth $522,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Pettinga Financial Advisors LLC bought a new position in shares of International Business Machines in the third quarter valued at $221,000. Capital Performance Advisors LLP acquired a new position in shares of International Business Machines in the 3rd quarter worth $43,000. Fiera Capital Corp raised its position in shares of International Business Machines by 3.6% during the third quarter. Fiera Capital Corp now owns 4,107 shares of the technology company’s stock worth $908,000 after purchasing an additional 142 shares during the period. United Bank boosted its position in shares of International Business Machines by 53.3% in the 3rd quarter. United Bank now owns 5,628 shares of the technology company’s stock valued at $1,244,000 after purchasing an additional 1,956 shares during the period. Finally, Rovin Capital UT ADV purchased a new position in International Business Machines in the 3rd quarter worth about $237,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the subject of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. JPMorgan Chase & Co. raised their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Bank of America boosted their target price on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. BMO Capital Markets raised their target price on 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. Finally, Morgan Stanley upped their price target on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $231.44.

International Business Machines Stock Performance

NYSE:IBM opened at $261.67 on Monday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The firm’s 50-day moving average is $241.29 and its 200-day moving average is $226.62. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $265.72. The company has a market cap of $242.63 billion, a price-to-earnings ratio of 40.82, a PEG ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (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%. Equities research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Insider Activity

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 transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate 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.